Document:

EXHIBIT
10.43

 

FORM
OF PLACEMENT AGENT AGREEMENT

 

December
__, 2018

 

This
Placement Agent Agreement (“Agreement”) is made by and between KinerjaPay Corp., a Delaware corporation (the
“Company”), and ______________, each a “Placement Agent” and collectively, the “Placement
Agents”), as of the date set forth on the signature page hereto. The Company hereby engages __________ to serve as a
Placement Agent, among other Placement Agents to assist the Company and its management in a non-exclusive capacity in
arranging an offering of its 11% Series C Cumulative Redeemable Perpetual Preferred Stock (the “Series C Preferred
Stock” or the “Securities”) which will be subject to a registration statement (the “Registration
Statement”) on Form S-1 filed with the United States Securities and Exchange Commission (the “SEC”), on
terms set forth in the Registration Statement (the “Offering”). The terms of the Offering are more fully
described in the Registration Statement and the Certificate of Designation filed as an exhibit to the Registration Statement
pertaining to the Offering and the Securities.

 

NOW
THEREFORE, based on the foregoing and the mutual covenants set forth below and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Company and the respective Placement Agents do hereby agree as
follows:

 

1.
Services.

 

(a)
The Placement Agent(s) shall offer participation in the Offering to its clients and other qualified persons with whom the Placement
Agent(s) or the Company or any of their respective officers, directors, employees or affiliates has a pre-existing business relationship
and that the Placement Agent(s) reasonably believes are considered to be a qualified investor (collectively, the “Qualified
Investors”). A list of Qualified Investors will be provided to the Company within five (5) business days of the final closing
of the Offering and it is expressly understood that Placement Agent(s) will only contact those institutions which have been preapproved
by the Company which approval will not be unreasonably withheld.

 

(b)
The Company shall be responsible for (i) the Registration Statement, as well as the relevant subscription documents or securities
purchase agreement (the “Transaction Documents”), and related investment materials to be used in connection with the
Offering; and the Placement Agent(s) shall be responsible for (i) organizing, obtaining facilities for, and conducting one or
more investor presentations and (ii) providing other services reasonably related to serving as the Placement Agent(s) for the
Company in connection with the Offering.

 

(c)
The Company shall (1) make members of management and other employees available to the Placement Agent(s) as the Placement Agent(s)
shall reasonably request for purposes of satisfying the Placement Agent(s)’s due diligence requirements and providing assistance
in consummating the Offering; (2) make its key management and sales members available to attend a reasonable number of investor
presentations, as recommended by the Placement Agent(s); and (3) commit such time and other resources as are reasonably necessary
or appropriate to support the Placement Agent(s) in its efforts to secure the reasonable and timely success of the Offering. The
Company shall cooperate with the Placement Agent(s) in connection with and shall make available to the Placement Agent(s) such
documents and other information as the Placement Agent(s) shall reasonably request in order to satisfy, its due diligence requirements,
subject to any applicable confidentiality requirements.

 

(d)
The Placement Agent(s) acknowledges that (i) the Company may determine, in its sole discretion, whether to accept an offer of
subscription to the Offering by a Qualified Investor and (ii) the Company is not obligated to compensate the Placement Agent(s)
for such offered subscriptions to the Company that the Company does not accept.

 

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(e)
The Company acknowledges that the Placement Agent(s) may engage one or more sub-agents (each a “Sub-Agent”), reasonably
acceptable to the Company, to assist the Placement Agent(s) in the placement of the Securities. Each Sub-Agent will be assigned
a portion of the Cash Fee and Equity Compensation (as each is defined below) otherwise payable to the Placement Agent(s), in the
amounts, and on the terms set forth in an agreement between the Placement Agent(s) and Sub-Agent(s) and for which amounts shall
be paid to the Sub-Agent(s) by the Placement Agent(s).

 

2.
Compensation Payable to the Placement Agent(s).

 

The
Company shall, at each closing of the Offering (each a “Closing”), as compensation for the services provided by the
Placement Agent(s) hereunder, pay the Placement Agent(s) a cash commission equal to seven (7%) percent of the gross proceeds received
by the Company from Qualified Investors from such closing (the “Cash Fee”) as a direct result of the selling efforts
and introductions of each respective Placement Agent.

 

3.
Term.

 

(a)
Unless earlier terminated as set forth herein, this Agreement will continue in full force and effect for a term expiring on ___________,
2019, unless extended by the Company and the Placement Agent(s)as set forth in the Registration Statement (the “Term”).
Certain provisions of this Agreement survive the termination of this Agreement as expressly provided elsewhere herein.

 

(b)
Prior to the end of the Term, (i) the Company may terminate this Agreement immediately and without notice in the event of a material
breach of this Agreement by the Placement Agent(s), and (ii) either party may terminate this Agreement upon three (3) business
days prior written notice to the other party for any reason. In the event the Company terminates this Agreement, the Placement
Agent(s) will be entitled to all applicable Cash Fees and Equity Compensation provided for in Section 2 hereof, earned prior to
such termination.

 

4.
Performance. In connection with the performance of its duties under this Agreement, the Placement Agent(s) agrees as
follows:

 

(a)
The Placement Agent(s) shall act in a manner consistent with the instructions of the Company and comply with all applicable laws,
whether foreign or domestic, of each jurisdiction in which the Placement Agent(s) proposes to carry on the business contemplated
by this Agreement. The Placement Agent(s) shall not take any action or omit to take any action that would cause the Company to
violate any law or to jeopardize the availability of any applicable exemption from registration under the Act or the Securities
Exchange Act of 1934(the “Exchange Act”). The Placement Agent(s) is a member firm in good standing of the Financial
Industry Regulatory Authority, Inc. (“FINRA”) and has all authority and approvals needed to engage in securities trading
and brokerage activities, as well as providing investment banking and financial advisory services. The Placement Agent(s) represents,
warrants and agrees that it shall at all times provide its services under this Agreement in compliance with applicable law.

 

(b)
The Placement Agent(s) shall, and shall cause all Sub-Agents to, keep a record of, and when and to whom each Registration Statement
is provided.

 

(c)
The Placement Agent(s) shall only provide the Registration Statement to potential investors and shall not make any additional
statements that contain an untrue statement of a material fact or omit to state any fact necessary to make any statement made
by the Placement Agent(s) not misleading in light of the circumstances in which such statements are made.

 

(d)
The Placement Agent(s) shall not provide any other information about the Company to any person or firm that, to the knowledge
of the Placement Agent(s), is a competitor of the Company or is an officer, director, employee, affiliate or investor in a competitor
of the Company.

 

(e)
The Placement Agent(s) shall use its best efforts to cause its officers, directors, employees and affiliates to comply with all
of the foregoing provisions of this Section 4.

 

5.
Representations and Warranties of the Parties.

 

(a)
The Company represents and warrants to the Placement Agent(s), except as otherwise set forth in the Company’s filings with
the Securities and Exchange Commission (the “Exchange Act Reports”), as follows:

 

(i)
On the effective date of the Registration Statement and at each Closing, the Registration Statement will comply in all material
respects with the disclosure requirements of Act and will neither contain any untrue statements of a material fact or omit to
state a material fact required to be stated therein in light of the circumstances under which they are made, or necessary to make
the statements therein not misleading.

 

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(ii)
The financial statements included in the Registration Statement present fairly in all material respects the financial position
of the Company as of the dates indicated and the results of its operations for the periods specified.

 

(iii)
The Company has been duly formed and is validly existing as a corporation in good standing under the laws of the State of Delaware,
with the power and authority to own, lease and operate its properties and conduct its business in all material respects as described
in the Registration Statement; and the Company is duly qualified as a foreign entity to transact business and is in good standing
in each jurisdiction in which the conduct of its business and/or its ownership of property requires such qualification except
for such jurisdictions in which the failure to qualify in the aggregate would not have a material and adverse effect on the results
of operations or financial conditions of the Company.

 

(iv)
Except as disclosed in the Registration Statement or the Company’s reports under the Exchange Act (the “Exchange Act
Reports”), the Company does not have any subsidiaries and does not own any interest in any other corporation, partnership,
joint venture or other entity.

 

(v)
This Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding agreement,
enforceable in accordance with its terms, except as enforceability of any indemnification provision may be limited under federal
securities laws and except as enforceability of such agreements may be limited by applicable bankruptcy, reorganization, insolvency,
moratorium or other laws relating to or affecting generally the enforcement of creditors’ rights.

 

(vi)
On the effective date of the Registration Statement and at each Closing, the Company owns good and marketable title to all properties
and assets described in the Registration Statement as owned by it, free and clear of all liens, charges, encumbrances or restrictions,
except such as are described or referred to in the Registration Statement or are not materially significant or important in relation
to the business of the Company.

 

(vii)
Except as disclosed in or contemplated by the Registration Statement or the Exchange Act Reports, the Company is not in violation
of its Certificate of Incorporation or its Bylaws, or in default in the performance or observance of any material obligation,
agreement, covenant or condition contained in any material bond, debenture, note or other evidence of indebtedness or in any material
contract, indenture, mortgage, loan agreement, lease, joint venture or other agreement or instrument to which the Company is a
party or by which it or any of its properties are bound; and the execution and delivery of this Agreement, the incurrence of the
obligations herein set forth and the consummation of the transactions herein contemplated will not conflict in any material respect
with, or result in a breach of any of the material terms, conditions or provisions of, or constitute a material default under,
the Certificate of Incorporation or Bylaws of the Company, or any material bond, debenture, note or other evidence of indebtedness
or any material contract, indenture, mortgage, loan agreement, lease, joint venture or other agreement or instrument to which
the Company is a party or by which it or any of its properties are bound.

 

(viii)
Except as disclosed in or contemplated by the Registration Statement or the Exchange Act Reports, there is no material action,
suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending, or, to the knowledge
of the Company, threatened against or affecting the Company, which might result in any material and adverse change in the condition
(financial or otherwise), business or prospects of the Company.

 

(ix)
Except as disclosed in or contemplated by the Registration Statement, each material contract to which the Company is a party is
in full force and effect or has terminated in accordance with its terms or as set forth in the Registration Statement; and no
party to any such contract has given notice of the cancellation of, or to the knowledge of the Company has the intention to, cancel
any such material contract.

 

(x)
Except as disclosed in or contemplated by the Registration Statement and the fees and disbursements payable to the Placement Agent(s)
pursuant to this Agreement, there are no outstanding claims for services either in the nature of a finder’s fee, brokerage
fee or other similar fee with respect to the Offering for which the Company or the Placement Agent(s) may be responsible.

 

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(b)
The Placement Agent(s) represents and warrants to and covenants with the Company that:

 

(i)
The Placement Agent(s) is a limited liability company duly organized, validly existing and in good standing under the laws of
the State of Oregon and it has all requisite power and authority to enter into this Agreement and to carry out its obligations
hereunder.

 

(ii)
This Agreement has been duly authorized, executed and delivered by the Placement Agent(s) and on its behalf and constitutes a
valid and legally binding obligation enforceable against the Placement Agent(s) in accordance with its terms.

 

(iii)
The execution and delivery of this Agreement, the observance and performance hereof and the consummation of the transactions contemplated
hereby and by the Registration Statement do not and will not result in any breach of, or default under, any instrument or agreement
by which the Placement Agent(s) is bound or violate any law or order directed to the Placement Agent(s) of any court or any federal
or state regulatory body or administrative agency having jurisdiction over the Placement Agent(s) or over its property.

 

(iv)
The Placement Agent(s) is duly registered as a broker-dealer with the SEC pursuant to the Exchange Act, and no proceeding has
been initiated to revoke any of such registrations; the Placement Agent(s) is a member in good standing of FINRA; the Placement
Agent(s) is duly registered as a broker-dealer under the applicable statutes, if any, in each state in which the Placement Agent(s)
proposes to offer or sell the Securities where such registration is required; the Placement Agent(s) shall be responsible for
payment of compensation owed to any Sub-Agent(s), if any, which Sub-Agent(s), if any, must be a member in good standing of FINRA
and registered in each state where investors identified by such Sub-Agent(s) reside.

 

(v)
The Placement Agent(s) shall maintain all broker-dealer registrations, referred to above in paragraph (iv), throughout the period
in which Securities are offered and sold; the Placement Agent(s) has complied and will comply with all broker-dealer requirements
applicable to this transaction; the Placement Agent(s) is not in violation of any order of any court or regulatory authority applicable
to it with respect to the sale of the Securities.

 

(vi)
Neither the Placement Agent(s) nor any of its representatives is authorized to make any representation on behalf of the Company
other than those contained in the Registration Statement or any additional information expressly provided by the Company to the
Placement Agent(s) for dissemination to potential investors, nor is the Placement Agent(s) or any of its representatives authorized
to act as the agent or representative of the Company in any capacity, except as expressly set forth herein.

 

(vii)
In the event that, on or before any Closing, the Placement Agent(s) becomes aware of any false statement of a fact or representation
in the Registration Statement, the Placement Agent(s) shall promptly inform the Company of such false statement of fact.

 

(viii)
The Placement Agent(s) shall inform the Company of each date on which it first receives any subscription from prospective investors
in each particular state where the Securities are offered and shall not offer the Securities for sale in any state in which the
offer or sale requires prior notice or clearance from any state securities commission, bureau or agency thereon, unless the Company
has confirmed that such prior notice or clearance has been made or obtained.

 

(ix)
It has not taken, and will not take, any action, directly or indirectly, that may cause the Offering to fail to be entitled to
exemption from applicable state securities or “blue sky” laws.

 

6.
Indemnification.

 

(a)
The Company agrees to indemnify and hold harmless the Placement Agent(s), its officers, directors, partners, employees, agents,
legal counsel and any of its affiliates (each, a “Placement Agent’s Indemnified Party”) against any and all
losses, claims, damages, liabilities, joint or several, and expenses (including all legal or other expenses reasonably incurred
by a Placement Agent’s Indemnified Party) caused by or arising out of any misrepresentation or untrue statement or alleged
misrepresentation or untrue statement of a material fact contained in the Registration Statement or any other document furnished
by the Company to the Placement Agent(s) for delivery to or review by the Qualified Investors, or the omission or the alleged
omission to state in such documents furnished to the Qualified Investors a material fact necessary in order to make the statements
therein not misleading in light of the circumstances under which they were made, to the extent such misstatements or omissions
are made in reliance upon and in conformity with written information furnished by the Company for use in the documents furnished
to the Qualified Investors, including the Registration Statement (except to the extent such misrepresentations, untrue statements
or omissions are based on information provided to the Company by the Placement Agent(s) or its/their affiliates). The Company
agrees to reimburse the Placement Agent’s Indemnified Party for any reasonable expenses (including reasonable fees and expenses
of counsel) incurred as a result of producing documents, presenting testimony or evidence, or preparing to present testimony or
evidence (based upon time expended by the Placement Agent’s Indemnified Party at its then current time charges or if such
person shall have no established time charges, then based upon reasonable charges), in connection with any court or administrative
proceeding (including any investigation which may be preliminary thereto) arising out of or relating to the performance by the
Placement Agent’s Indemnified Party of any obligation hereunder and relating to a matter for which the Company must provide
indemnity to or hold harmless such Placement Agent’s Indemnified Party pursuant to the provisions of this subsection 6(a).
In the event the Company shall be obligated to indemnify a Placement Agent’s Indemnified Party in connection with any such
proceeding, the Company shall be entitled to assume the defense of such proceeding, with counsel approved by the Placement Agent’s
Indemnified Party (which shall not be unreasonably withheld), upon the delivery to the Placement Agent’s Indemnified Party
of written notice of the Company’s election to do so.

 

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(b)
The Placement Agent(s), individually but not collectively, agree to indemnify and hold harmless the Company, its managers, officers,
directors, partners, employees, agents, legal counsel and its affiliates (each, a “Company Indemnified Party”) against
any and all losses, claims, damages and liabilities, joint or several, and expenses (including all legal or other expenses reasonably
incurred by a Company Indemnified Party) caused by or arising out of any misrepresentation or untrue statement or alleged misrepresentation
or untrue statement of a material fact made by the Placement Agent(s) or its affiliates to the Qualified Investors, or any Placement
Agent’s omission or the alleged omission to state to the Qualified Investors a material fact necessary in order to make
statements made not misleading in light of the circumstances under which they were made (except to the extent such misrepresentations,
untrue statements or omissions are based on information provided to the Placement Agent(s) by the Company, including the Registration
Statement or any other document furnished by the Company to the Placement Agent(s) for delivery to or review by the Qualified
Investors), in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission
or alleged omission was made in the Registration Statement or other document furnished to the Placement Agent(s) for delivery
to or review by the Qualified Investors, in reliance upon and in conformity with written information furnished to the Company
by the Placement Agent or its affiliates expressly for use therein. The Placement Agent(s) agrees to reimburse the Company Indemnified
Party for any reasonable expenses (including reasonable fees and expenses of counsel) incurred as a result of producing documents,
presenting testimony or evidence, or preparing to present testimony or evidence (based upon time expended by the Company Indemnified
Party at its then current time charges or if such person shall have no established time charges, then based upon reasonable charges),
in connection with any court or administrative proceeding (including any investigation which may be preliminary thereto) arising
out of or relating to the performance by the Company Indemnified Party of any obligation hereunder and relating to a matter for
which the Company must provide indemnity to or hold harmless such Company Indemnified Party pursuant to the provisions of this
subsection 6(b). The Placement Agent(s)’ obligations under this Section 6(b) shall be limited to the net amount of Cash
Fees paid or payable by the Company to the Placement Agent(s), other than in the case of fraud, intentional misrepresentation
or willful breach. In the event the Placement Agent(s) shall be obligated to indemnify a Company Indemnified Party in connection
with any such proceeding, the Placement Agent(s) shall be entitled to assume the defense of such proceeding, with counsel approved
by the Company Indemnified Party (which shall not be unreasonably withheld), upon the delivery to the Company Indemnified Party
of written notice of the Placement Agent(s)’ election to do so.

 

(c)
In order to provide for just and equitable contribution under the Act in any case in which (i) any person entitled to indemnification
under this Section 6 makes claim for indemnification pursuant hereto but it is judicially determined (by the entry of a final
judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of
appeal) that such indemnification may not be enforced notwithstanding the fact that this Section 6 provides for indemnification
in such case, or (ii) contribution under the Act may be required on the part of any such person in circumstances for which indemnification
is provided under this Section 6, then, and in each such case, the Company and the Placement Agent(s) shall contribute to the
aggregate losses, claims, damages or liabilities to which they may be subject (after any contribution from others) in such proportion
so that the Placement Agent(s) is responsible for the proportion that the amount of commissions appearing in the Registration
Statement bears to the price appearing therein, and the Company is responsible for the remaining portion; provided, that, in any
such case, no person guilty of a fraudulent misrepresentation or omission (within the meaning of Section 11(f) of the Act) shall
be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.

 

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(d)
The respective indemnity agreements between the Placement Agent(s) and the Company contained in Sections 6(a) and (b) of this
Agreement, and the representations and warranties of the parties set forth in Section 5 or elsewhere in this Agreement, shall
remain operative and in full force and effect, regardless of any investigation made by or on behalf of the Company or Placement
Agent(s), as the case may be, or by or on behalf of any controlling person of the Placement Agent(s) or the Company or any such
manager, partner, officer or director or any controlling person of the Company or the Placement Agent(s), as the case may be,
and shall survive the delivery of the Securities, and any successor of the Company and of the Placement Agent(s), or of any controlling
person of the Company or the Placement Agent(s), as the case may be, shall be entitled to the benefit of the respective indemnity
agreements. The representations and warranties in Section 5 of this Agreement (but not the indemnities contained in Section 6
hereof) shall terminate six (6) months after the final Closing under this Agreement.

 

7.
Covenants

 

(a)
The Company covenants with the Placement Agent(s) as follows:

 

(i)
The Company will notify the Placement Agent(s) promptly, and confirm the notice in writing, of the initiation by the Commission
or any state securities commission of any proceeding against the Company.

 

(ii)
The Company will give the Placement Agent(s) notice of its intention to amend or supplement the Registration Statement.

 

(iii)
If any event shall occur as a result of which it is necessary, in the reasonable opinion of either or both of the Placement Agent(s)
and the Company, to amend or supplement the Registration Statement in order to make the Registration Statement not misleading
in the light of the circumstances existing at the time it is delivered to a purchaser, the Company will forthwith amend or supplement
the Registration Statement by preparing and furnishing to the Placement Agent(s) a reasonable number of copies of an amendment
or amendments of, or a supplement or supplements to, the Registration Statement (in form and substance satisfactory to the Placement
Agent(s)), so that, as so amended or supplemented, the Registration Statement will not contain an untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing
at the time it is delivered to a purchaser, not misleading.

 

(iv)
The Company will endeavor, in cooperation with the Placement Agent(s), to qualify or perfect an exemption for the Securities for
offering and sale under the applicable securities laws of such states and other jurisdictions of the United States as the Placement
Agent(s) and the Company agree to offer and sell the Securities, and will maintain such qualifications in effect for so long as
may be required for the distribution of the Securities. This will include, but not be limited to preparing and filing Forms D,
and notice filings with each State, as, if, and when appropriate.

 

(v)
The Company will apply the net proceeds from the sale of the Securities sold by it hereunder substantially as contemplated by
the Registration Statement.

 

(vi)
All communications by the Company with the Placement Agent(s) shall be with the Placement Agent’s President, legal counsel
and/or designated investment banker(s) with respect to the Offering. The Company shall not initiate communication directly with
any of the Placement Agent’s brokers or the Qualified Investors (until such time as such Qualified Investors are stockholders
of the Company) without the prior consent of the Placement Agent(s).

 

(b)
The Placement Agent(s) covenants and agrees that:

 

(i)
It will not give any information or make any representation in connection with the offering of Securities which is not contained
in the Registration Statement.

 

(ii)
In making any offer of Securities, the Placement Agent(s) agrees that it will comply with the provisions of the Act and the Exchange
Act and the securities laws of each state, and that it and its authorized agents will offer to sell, or solicit offers to subscribe
for or buy, the Securities only in those states and other jurisdictions in the United States in which such solicitations can be
made in accordance with an applicable exemption from registration or qualification and in which the Placement Agent(s) is qualified
to so act. Nothing contained herein shall limit the Placement Agent(s) from offering to sell the Securities outside the United
States in compliance with applicable laws.

 

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8.
Confidentiality. Except in keeping with its obligations under this Agreement, the Placement Agent(s) will maintain
in confidence and will use only for the purpose of fulfilling its obligations hereunder and will not use for its own benefit any
inventions, confidential know-how, trade secrets, financial information and other non-public information and data disclosed to
it by the Company, and it will not divulge the same to any other persons until such time as the information becomes a matter of
public knowledge. The Placement Agent(s) will use its best efforts to prevent any unauthorized disclosure described above by others.

 

9.
Independent Contractor; Duty Owed.

 

(a)
The Placement Agent(s) will perform its services hereunder as an independent contractor, and nothing in this Agreement will in
any way be construed to constitute the Placement Agent(s) the agent, employee or representative of the Company. Neither the Placement
Agent(s) nor any agent acting on behalf of the Placement Agent(s) will enter into any agreement or incur any obligations on the
Company’s behalf or commit the Company in any manner or make any representations, warranties or promises on the Company’s
behalf or hold itself (or allow itself to be held) as having any authority whatsoever to bind the Company without the Company’s
prior written consent, or attempt to do any of the foregoing.

 

(b)
The Company acknowledges that the Placement Agent(s) is being engaged hereunder solely to provide the services described above
to the Company, and that it is not acting as a fiduciary of, and shall have no duties or liabilities to, the equity holders of
the Company or any other third party in connection with its engagement hereunder, all of which are hereby expressly waived.

 

10.
General.

 

(a)
Arbitration. The parties hereto agree that any dispute or controversy arising out of, relating to or concerning any interpretation,
construction, performance or breach of this Agreement, shall be subject to the laws of the State of New York without giving effect
to its conflicts of laws provisions. Any disputes will be settled in binding arbitration in New York County, City and State of
New York under the auspices of FINRA dispute resolution. The decision of the arbitrator will be final, conclusive and binding
on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction.
The Company and the Placement Agent(s) shall each pay one-halfof the costs and expenses of such arbitration, and each shall separately
pay its counsel fees and expenses.

 

(b)
Covenant against Assignment. This Agreement is personal to the parties hereto, and accordingly, except for the right to
enforce the obligations under Sections 6 and 7 hereunder (which right shall inure to the benefit of the successors and assigns
of the aggrieved party), neither this Agreement nor any right hereunder or interest herein may be assigned or transferred or charged
by either party without the express written consent of the other.

 

(c)
Entire Agreement; Amendment. This Agreement and the attached exhibits constitute the entire contract between the parties
with respect to the subject matter hereof and supersede any prior agreements between the parties. This Agreement may not be amended,
nor may any obligation hereunder be waived, except by an agreement in writing executed by, in the case of an amendment, each of
the parties hereto, and, in the case of a waiver, by the party waiving performance.

 

(d)
No Waiver. The failure or delay by a party to enforce any provision of this Agreement will not in any way be construed
as a waiver of any such provision or prevent that party from thereafter enforcing any other provision of this Agreement. The rights
granted the parties hereunder are cumulative and will not constitute a waiver of either party’s right to assert any other
legal remedy available to it.

 

(e)
Severability. Should any provision of this Agreement be found to be illegal or unenforceable, the other provisions will
nevertheless remain effective and will remain enforceable to the greatest extent permitted by law.

 

(f)
Notices. Any notice, demand, offer, request or other communication required or permitted to be given by either the Company
or the Placement Agent(s) pursuant to the terms of this Agreement must be in writing and will be deemed effectively given the
earlier of (i) when received, (ii) when delivered personally, (iii) one business day after being delivered by facsimile (with
receipt of appropriate confirmation) to the number provided to the other party or such other number as a party may request by
notifying the other in writing, (iv) one business day after being deposited with an overnight courier service or (v) four days
after being deposited in the U.S. mail, First Class with postage prepaid, and addressed to the party at the address previously
provided to the other party or such other address as a party may request by notifying the other in writing.

 

(g)
Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but
all of which together will constitute one and the same agreement. Facsimile copies of signed signature pages will be deemed binding
originals.

 

[Signatures
on Following Page]

 

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SIGNATURE
PAGE TO PLACEMENT AGENT AGREEMENT

 

The
Parties have executed this Placement Agent Agreement as of the date first written above.

 

	KINERJAPAY
    CORP.	 
	 	 	 
	 	/s/:
    Edwin Ng	 
	Name:	Edwin
    Ng	 
	Title:	Chief
    Executive Officer	 

 

	PLACEMENT
    AGENTS:	 
	 	 	 
	By:		 
	Placement
    Agent: 		 
	Name:		 
	Title:		 
	 	 	 
	By:		 
	Placement
    Agent: 		 
	Name: 		 
	Title:		 
	 	 	 
	By:		 
	Placement
    Agent: 		 
	Name: 		 
	Title:		 
	 	 	 
	By:		 
	Placement
    Agent: 		 
	Name: 		 
	Title: 		 
	 	 	 
	By:		 
	Placement
    Agent: 		 
	Name: 		 
	Title: 		 
	 	 	 
	By:		 
	Placement
    Agent: 		 
	Name: 		 
	Title: 		 
	 	 	 
	By:		 
	Placement
    Agent: 		 
	Name: 		 
	Title: 		 
	 	 	 
	By:		 
	Placement
    Agent: 		 
	Name: 		 
	Title: 		 

 

    	8Exhibit
4.1

 

THE
REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE
WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN,
PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY DAYS FOLLOWING THE COMMENCEMENT DATE (DEFINED BELOW)
TO ANYONE OTHER THAN A BONA FIDE OFFICER OR PARTNER OF YA II PN LTD.

 

THIS
PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [________]. VOID AFTER 5:00 P.M., EASTERN TIME, [________].

 

COMMON
STOCK PURCHASE WARRANT

 

For
the Purchase of [________] Shares of Common Stock

 

of

 

[________]

 

1.
Purchase Warrant. THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of YA II PN, LTD. (“Holder”
or “YA II”), as registered owner of this Purchase Warrant, to [________] (the “Company”),
Holder is entitled, at any time or from time to time from [________] (the “Commencement
Date”), and at or before 5:00 p.m., Eastern time, [________] (the “Expiration
Date”), but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to [________] shares
of common stock of the Company, par value $0.001 per share (the “Shares”),
subject to adjustment as provided in Section 6 hereof. If the Expiration Date is a day on which banking institutions are authorized
by law to close, then this Purchase Warrant may be exercised on the next succeeding day which is not such a day in accordance
with the terms herein. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate
the Purchase Warrant. This Purchase Warrant is initially exercisable at $[________] per Share; provided,
however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase
Warrant, including the exercise price per Share and the number of Shares to be received upon such exercise, shall be adjusted
as therein specified. The term “Exercise Price” shall mean the
initial exercise price or the adjusted exercise price, depending on the context.

 

2.
Exercise.

 

2.1
Exercise Form. In order to exercise this Purchase Warrant, the exercise form
attached hereto must be duly executed and completed and delivered to the Company, together with this Purchase Warrant and payment
of the Exercise Price for the Shares being purchased payable in cash by wire transfer of immediately available funds to an account
designated by the Company or by certified check or official bank check. If the subscription rights represented hereby shall not
be exercised at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without
further force or effect, and all rights represented hereby shall cease and expire.

 

2.2
Cashless Exercise. If at any time after the Commencement Date there is no
effective registration statement registering, or no current prospectus available for, the resale of the Shares by the Holder,
then in lieu of exercising this Purchase Warrant by payment of cash or check payable to the order of the Company pursuant to Section
2.1 above, Holder may elect to receive the number of Shares equal to the value of this Purchase Warrant (or the portion thereof
being exercised), by surrender of this Purchase Warrant to the Company, together with the exercise form attached hereto, in which
event the issue to Holder, Shares in accordance with the following formula:

 

X
= Y(A-B) / A

 

         Where,
X = The number of Shares to be issued to Holder;

 

Y
= The number of Shares for which the Purchase Warrant is being exercised;

 

A
= The fair market value of one Share; and

 

B
= The Exercise Price.

 

     

     

    

 

For
purposes of this Section 2.2, the fair market value of a Share is defined as follows:

 

(i)
if the Company’s common stock is traded on a securities exchange, the value shall be deemed to be the closing price on such
exchange prior to the exercise form being submitted in connection with the exercise of the Purchase Warrant; or

 

(ii)
if the Company’s common stock is actively traded over-the-counter, the value shall be deemed to be the closing bid prior
to the exercise form being submitted in connection with the exercise of the Purchase Warrant;

 

(iii)
if there is no active public market, the value shall be the fair market value thereof, as determined in good faith by the Company’s
Board of Directors.

 

2.3
Legend. Each certificate for the securities purchased under this Purchase
Warrant shall bear a legend as follows unless such securities have been registered under the Securities Act of 1933, as amended
(the “Securities Act”):

 

“The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), or applicable state law. Neither the securities nor any interest therein may be offered for sale, sold
or otherwise transferred except pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption
from registration under the Securities Act and applicable state law which, in the opinion of counsel to the Company, is available.”

 

3.
Transfer.

 

3.1
General Restrictions. The registered Holder of this Purchase Warrant agrees
by his, her or its acceptance hereof, that such Holder will not: (a) sell, transfer, assign, pledge or hypothecate this Purchase
Warrant for a period of one hundred eighty (180) days following the Commencement Date to anyone other than a bona fide officer
or partner of the Holder, in each case in accordance with FINRA Conduct Rule 5110(g)(1), or (b) cause this Purchase Warrant or
the securities issuable hereunder to be the subject of any hedging, short sale, derivative, put or call transaction that would
result in the effective economic disposition of this Purchase Warrant or the securities hereunder, except as provided for in FINRA
Rule 5110(g)(2). On and after 180 days after the Commencement Date, transfers to others may be made subject to compliance with
or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company
the assignment form attached hereto duly executed and completed, together with the Purchase Warrant and payment of all transfer
taxes, if any, payable in connection therewith. The Company shall within five (5) Business Days transfer this Purchase Warrant
on the books of the Company and shall execute and deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate
assignee(s) expressly evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of
such number as shall be contemplated by any such assignment.

 

3.2
Restrictions Imposed by the Securities Act. The securities evidenced by this
Purchase Warrant shall not be transferred unless and until: (i) the Company has received the opinion of counsel for the Holder
that the securities may be transferred pursuant to an exemption from registration under the Securities Act and applicable state
securities laws, the availability of which is established to the reasonable satisfaction of the Company, or (ii) a registration
statement or a post-effective amendment to the registration statement relating to the offer and sale of such securities has been
filed by the Company and declared effective by the U.S. Securities and Exchange Commission (the “Commission”)
and compliance with applicable state securities law has been established.

 

    2

     

    

 

4.
Registration Rights.

 

4.1
Demand Registration.

 

4.1.1
Grant of Right. The Company, upon written demand (a “Demand
Notice”) of the Holder(s) of at least 51% of the Purchase Warrants and/or the underlying Shares (“Majority
Holders”), agrees to register, on one occasion, all or any portion of the Shares underlying the Purchase Warrants
(collectively, the “Registrable Securities”). On such occasion,
the Company will file a registration statement with the Commission covering the Registrable Securities within sixty (60) days
after receipt of a Demand Notice and use its reasonable best efforts to have the registration statement declared effective promptly
thereafter, subject to compliance with review by the Commission; provided, however,
that the Company shall not be required to comply with a Demand Notice if the Company has filed a registration statement with respect
to which the Holder is entitled to piggyback registration rights pursuant to Section 4.2 hereof and either: (i) the Holder has
elected to participate in the offering covered by such registration statement or (ii) if such registration statement relates to
an underwritten primary offering of securities of the Company, until the offering covered by such registration statement has been
withdrawn or until thirty (30) days after such offering is consummated. The demand for registration may be made at any time during
a period of four (4) years beginning one (1) year after the Commencement Date. The Company covenants and agrees to give written
notice of its receipt of any Demand Notice by any Holder(s) to all other registered Holders of the Purchase Warrants and/or the
Registrable Securities within ten (10) days after the date of the receipt of any such Demand Notice.

 

4.1.2
Terms. The Company shall bear all fees and expenses attendant to the registration
of the Registrable Securities pursuant to Section 4.1.1, but the Holders shall pay any and all underwriting commissions and the
expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities.
The Company agrees to use its reasonable best efforts to cause the filing required herein to become effective promptly and to
qualify or register the Registrable Securities in such States as are reasonably requested by the Holder(s); provided,
however, that in no event shall the Company be required to register the Registrable Securities in a State in which
such registration would cause: (i) the Company to be obligated to register or license to do business in such State or submit to
general service of process in such State, or (ii) the principal shareholders of the Company to be obligated to escrow their shares
of capital stock of the Company. The Company shall cause any registration statement filed pursuant to the demand right granted
under Section 4.1.1 to remain effective for a period of at least twelve (12) consecutive months after the date that the Holders
of the Registrable Securities covered by such registration statement are first given the opportunity to sell all of such securities.
The Holders shall only use the prospectuses provided by the Company to sell the shares covered by such registration statement,
and will immediately cease to use any prospectus furnished by the Company if the Company advises the Holder that such prospectus
may no longer be used due to a material misstatement or omission. Notwithstanding the provisions of this Section 4.1.2, the Holder
shall be entitled to a demand registration under this Section 4.1.2 on only one (1) occasion and such demand registration right
shall terminate on the fifth anniversary of the effectiveness of the registration statement in accordance with FINRA Rule 5110(f)(2)(H)(iv).

 

4.2
“Piggy-Back” Registration.

 

4.2.1
Grant of Right. In addition to the demand right of registration described
in Section 4.1 hereof, the Holder shall have the right, for a period of no more than seven (7) years from the date of effectiveness
of the registration statement in accordance with FINRA Rule 5110(f)(2)(H)(v), to include the Registrable Securities as part of
any other registration of securities filed by the Company (other than in connection with a transaction contemplated by Rule 145
(a) promulgated under the Securities Act or pursuant to Form S-8 or any equivalent form); provided,
however, that if, solely in connection with any primary underwritten public offering for the account of the Company,
the managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number of shares of Common
Stock which may be included in the registration statement because, in such underwriter(s)’ judgment, marketing or other
factors dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to include
in such registration statement only such limited portion of the Registrable Securities with respect to which the Holder requested
inclusion hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata
among the Holders seeking to include Registrable Securities in proportion to the number of Registrable Securities sought to be
included by such Holders; provided, however, that the Company shall not exclude
any Registrable Securities unless the Company has first excluded all outstanding securities, the holders of which are not entitled
to inclusion of such securities in such registration statement or are not entitled to pro rata inclusion with the Registrable
Securities.

 

    3

     

    

 

4.2.2
Terms. The Company shall bear all fees and expenses attendant to registering
the Registrable Securities pursuant to Section 4.2.1 hereof, but the Holders shall pay any and all underwriting commissions and
the expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities.
In the event of such a proposed registration, the Company shall furnish the then Holders of outstanding Registrable Securities
with not less than thirty (30) days written notice prior to the proposed date of filing of such registration statement. Such notice
to the Holders shall continue to be given for each registration statement filed by the Company until such time as all of the Registrable
Securities have been sold by the Holder. The holders of the Registrable Securities shall exercise the “piggy-back”
rights provided for herein by giving written notice within ten (10) days of the receipt of the Company’s notice of its intention
to file a registration statement. Except as otherwise provided in this Purchase Warrant, there shall be no limit on the number
of times the Holder may request registration under this Section 4.2.2; provided, however,
that such registration rights shall terminate on the sixth anniversary of the Commencement Date.

 

4.3
General Terms.

 

4.3.1
Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration
statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act or
Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”),
against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably
incurred in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under the
Securities Act, the Exchange Act or otherwise, arising from such registration statement but only to the same extent and with the
same effect as the provisions pursuant to which the Company has agreed to indemnify YA II contained in Section 5.1 of the Standby
Equity Distribution Agreement between YA II and MICT, Inc., dated as of June 30, 2016. The Holder(s) of the Registrable Securities
to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify
the Company, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses
reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may become subject under
the Securities Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their
successors or assigns, in writing, for specific inclusion in such registration statement to the same extent and with the same effect
as the provisions contained in Section 5.2 of the SEDA pursuant to which the Holder has agreed to indemnify MICT, Inc..

 

4.3.2
Exercise of Purchase Warrants. Nothing contained in this Purchase Warrant
shall be construed as requiring the Holder(s) to exercise their Purchase Warrants prior to or after the initial filing of any
registration statement or the effectiveness thereof.

 

4.3.3
Documents Delivered to Holders. The Company shall furnish to each Holder participating
in any of the foregoing offerings and to each underwriter of any such offering, if any, a signed counterpart, addressed to such
Holder or underwriter, of: (i) an opinion of counsel to the Company, dated the effective date of such registration statement (and,
if such registration includes an underwritten public offering, an opinion dated the date of the closing under any underwriting
agreement related thereto), and (ii) a “cold comfort” letter dated the effective date of such registration statement
(and, if such registration includes an underwritten public offering, a letter dated the date of the closing under the underwriting
agreement) signed by the independent registered public accounting firm which has issued a report on the Company’s financial
statements included in such registration statement, in each case covering substantially the same matters with respect to such
registration statement (and the prospectus included therein) and, in the case of such accountants’ letter, with respect
to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s counsel
and in accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company shall
also deliver promptly to each Holder participating in the offering requesting the correspondence and memoranda described below
and to the managing underwriter, if any, copies of all correspondence between the Commission and the Company, its counsel or auditors
and all memoranda relating to discussions with the Commission or its staff with respect to the registration statement and permit
each Holder and underwriter to do such investigation, upon reasonable advance notice, with respect to information contained in
or omitted from the registration statement as it deems reasonably necessary to comply with applicable securities laws or rules
of FINRA. Such investigation shall include access to books, records and properties and opportunities to discuss the business of
the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable times as any such
Holder shall reasonably request.

 

    4

     

    

 

4.3.4
Underwriting Agreement. The Company shall enter into an underwriting agreement
with the managing underwriter(s), if any, selected by any Holders whose Registrable Securities are being registered pursuant to
this Section 4, which managing underwriter(s) shall be reasonably satisfactory to the Company. Such agreement shall be reasonably
satisfactory in form and substance to the Company, each Holder and such managing underwriter(s), and shall contain such representations,
warranties and covenants by the Company and such other terms as are customarily contained in agreements of that type used by the
managing underwriter(s). The Holders shall be parties to any underwriting agreement relating to an underwritten sale of their
Registrable Securities and may, at their option, require that any or all the representations, warranties and covenants of the
Company to or for the benefit of such underwriters shall also be made to and for the benefit of such Holders. Such Holders shall
not be required to make any representations or warranties to or agreements with the Company or the underwriters except as they
may relate to such Holders, their Shares and their intended methods of distribution.

 

4.3.5
Documents to be Delivered by Holder(s). Each of the Holder(s) participating
in any of the foregoing offerings shall furnish to the Company a completed and executed questionnaire provided by the Company
requesting information customarily sought of selling security holders.

 

4.3.6
Damages. Should the registration or the effectiveness thereof required by
Sections 4.1 and 4.2 hereof be delayed by the Company or the Company otherwise fails to comply with such provisions, the Holder(s)
shall, in addition to any other legal or other relief available to the Holder(s), be entitled to obtain specific performance or
other equitable (including injunctive) relief against the threatened breach of such provisions or the continuation of any such
breach, without the necessity of proving actual damages and without the necessity of posting bond or other security.

 

5.
New Purchase Warrants to be Issued.

 

5.1
Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof,
this Purchase Warrant may be exercised or assigned in whole or in part. In the event of the exercise or assignment hereof in part
only, upon surrender of this Purchase Warrant for cancellation, together with the duly executed exercise or assignment form and
funds sufficient to pay any Exercise Price and/or transfer tax if exercised pursuant to Section 2.1 hereto, the Company shall
cause to be delivered to the Holder without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of
the Holder evidencing the right of the Holder to purchase the number of Shares purchasable hereunder as to which this Purchase
Warrant has not been exercised or assigned.

 

5.2
Lost Certificate. Upon receipt by the Company of evidence satisfactory to
it of the loss, theft, destruction or mutilation of this Purchase Warrant and of reasonably satisfactory indemnification or the
posting of a bond, the Company shall execute and deliver a new Purchase Warrant of like tenor and date. Any such new Purchase
Warrant executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual
obligation on the part of the Company.

 

6.
Adjustments.

 

6.1
Adjustments to Exercise Price and Number of Securities. The Exercise Price
and the number of Shares underlying the Purchase Warrant shall be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1
Share Dividends; Split Ups. If, after the date hereof, and subject to the
provisions of Section 6.3 below, the number of outstanding Shares is increased by a stock dividend payable in Shares or by a split
up of Shares or other similar event, then, on the effective day thereof, the number of Shares purchasable hereunder shall be increased
in proportion to such increase in outstanding Shares, and the Exercise Price shall be proportionately decreased.

 

    5

     

    

 

6.1.2
Aggregation of Shares. If, after the date hereof, and subject to the provisions
of Section 6.3 below, the number of outstanding Shares is decreased by a consolidation, combination or reclassification of Shares
or other similar event, then, on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in
proportion to such decrease in outstanding Shares, and the Exercise Price shall be proportionately increased.

 

6.1.3
Replacement of Securities upon Reorganization, etc. In case of any reclassification
or reorganization of the outstanding Shares other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects
the par value of such Shares, or in the case of any share reconstruction or amalgamation or consolidation of the Company with
or into another corporation (other than a consolidation or share reconstruction or amalgamation in which the Company is the continuing
corporation and that does not result in any reclassification or reorganization of the outstanding Shares), or in the case of any
sale or conveyance to another corporation or entity of the property of the Company as an entirety or substantially as an entirety
in connection with which the Company is dissolved, the Holder of this Purchase Warrant shall have the right thereafter (until
the expiration of the right of exercise of this Purchase Warrant) to receive upon the exercise hereof, for the same aggregate
Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other securities or
property (including cash) receivable upon such reclassification, reorganization, share reconstruction or amalgamation, or consolidation,
or upon a dissolution following any such sale or transfer, by a Holder of the number of Shares of the Company obtainable upon
exercise of this Purchase Warrant immediately prior to such event; and if any reclassification also results in a change in Shares
covered by Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3.
The provisions of this Section 6.1.3 shall similarly apply to successive reclassifications, reorganizations, share reconstructions
or amalgamations, or consolidations, sales or other transfers.

 

6.1.4
Changes in Form of Purchase Warrant. This form of Purchase Warrant need not
be changed because of any change pursuant to this Section 6.1, and Purchase Warrants issued after such change may state the same
Exercise Price and the same number of Shares as are stated in the Purchase Warrants initially issued pursuant to this Agreement.
The acceptance by any Holder of the issuance of new Purchase Warrants reflecting a required or permissive change shall not be
deemed to waive any rights to an adjustment occurring after the Commencement Date or the computation thereof.

 

6.2
Substitute Purchase Warrant. In case of any consolidation of the Company with,
or share reconstruction or amalgamation of the Company with or into, another corporation (other than a consolidation or share
reconstruction or amalgamation which does not result in any reclassification or change of the outstanding Shares), the corporation
formed by such consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase
Warrant providing that the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter
(until the stated expiration of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount
of shares of stock and other securities and property receivable upon such consolidation or share reconstruction or amalgamation,
by a holder of the number of Shares of the Company for which such Purchase Warrant might have been exercised immediately prior
to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide
for adjustments which shall be identical to the adjustments provided for in this Section 6. The above provision of this Section
shall similarly apply to successive consolidations or share reconstructions or amalgamations.

 

6.3
Elimination of Fractional Interests. The Company shall not be required to
issue certificates representing fractions of Shares upon the exercise of the Purchase Warrant, nor shall it be required to issue
scrip or pay cash in lieu of any fractional interests, it being the intent of the parties that all fractional interests shall
be eliminated by rounding any fraction up or down, as the case may be, to the nearest whole number of Shares or other securities,
properties or rights.

 

7.
Reservation and Listing. The Company shall at all times reserve and keep available
out of its authorized Shares, solely for the purpose of issuance upon exercise of the Purchase Warrants, such number of Shares
or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants and agrees that,
upon exercise of the Purchase Warrants and payment of the Exercise Price therefor, in accordance with the terms hereby, all Shares
and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject
to preemptive rights of any shareholder. As long as the Purchase Warrants shall be outstanding, the Company shall use its commercially
reasonable efforts to cause all Shares issuable upon exercise of the Purchase Warrants to be listed (subject to official notice
of issuance) on all national securities exchanges (or, if applicable, on the OTC Bulletin Board or any successor trading market)
on which the Shares issued to the public in the Offering may then be listed and/or quoted.

 

    6

     

    

 

8.
Certain Notice Requirements.

 

8.1
Holder’s Right to Receive Notice. Nothing herein shall be construed
as conferring upon the Holders the right to vote or consent or to receive notice as a shareholder for the election of directors
or any other matter, or as having any rights whatsoever as a shareholder of the Company. If, however, at any time prior to the
expiration of the Purchase Warrants and their exercise, any of the events described in Section 8.2 shall occur, then, in one or
more of said events, the Company shall give written notice of such event at least fifteen days prior to the date fixed as a record
date or the date of closing the transfer books for the determination of the shareholders entitled to such dividend, distribution,
conversion or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding
up or sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case may be. Notwithstanding
the foregoing, the Company shall deliver to each Holder a copy of each notice given to the shareholders of the Company at the
same time and in the same manner that such notice is given to the shareholders.

 

8.2
Events Requiring Notice. The Company shall be required to give the notice
described in this Section 8 upon one or more of the following events: (i) if the Company shall take a record of the holders of
its Shares for the purpose of entitling them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend
or distribution payable otherwise than out of retained earnings, as indicated by the accounting treatment of such dividend or
distribution on the books of the Company, (ii) the Company shall offer to all the holders of its Shares any additional shares
of capital stock of the Company or securities convertible into or exchangeable for shares of capital stock of the Company, or
any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation or winding up of the Company (other than
in connection with a consolidation or share reconstruction or amalgamation) or a sale of all or substantially all of its property,
assets and business shall be proposed.

 

8.3
Notice of Change in Exercise Price. The Company shall, promptly after an event
requiring a change in the Exercise Price pursuant to Section 6 hereof, send notice to the Holders of such event and change (“Price
Notice”). The Price Notice shall describe the event causing the change and the method of calculating same and
shall be certified as being true and accurate by the Company’s Chief Financial Officer.

 

8.4
Transmittal of Notices. All notices, requests, consents and other communications
under this Purchase Warrant shall be in writing and shall be deemed to have been duly made when hand delivered, or mailed by express
mail or private courier service: (i) if to the registered Holder of the Purchase Warrant, to the address of such Holder as shown
on the books of the Company, or (ii) if to the Company, to the following address or to such other address as the Company may designate
by notice to the Holders:

 

If
to the Holder:

 

YA
II PN LTD.

1012
Springfield Avenue

Mountainside,
NJ 07093

Telephone:
201-985-8300

Email:
mangelo@yorkvilleadvisors.com

Attn:
Mark Angelo

 

with
a copy (which shall not constitute notice) to:

 

David
Gonzalez, Esq.

1012
Springfield Avenue

Mountainside,
NJ 07093

Email:
dgonzalez@yorkvilleadvisors.com

 

    7

     

    

 

If to the Company:

 

[________]

 

with
a copy (which shall not constitute notice) to:

 

[________]

 

9.
Miscellaneous.

 

9.1
Amendments. The Company and the YA II may from time to time supplement or
amend this Purchase Warrant without the approval of any of other holders in order to cure any ambiguity, to correct or supplement
any provision contained herein that may be defective or inconsistent with any other provisions herein, or to make any other provisions
in regard to matters or questions arising hereunder that the Company and YA II may deem necessary or desirable and that the Company
and YA II deem shall not adversely affect the interest of the any other holders. All other modifications or amendments shall require
the written consent of and be signed by the party against whom enforcement of the modification or amendment is sought.

 

9.2
Headings. The headings contained herein are for the sole purpose of convenience
of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this
Purchase Warrant.

 

9.3
Entire Agreement. This Purchase Warrant (together with the other agreements
and documents being delivered pursuant to or in connection with this Purchase Warrant) constitutes the entire agreement of the
parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings of the parties,
oral and written, with respect to the subject matter hereof.

 

9.4
Binding Effect. This Purchase Warrant shall inure solely to the benefit of
and shall be binding upon, the Holder and the Company and their permitted assignees, respective successors, legal representative
and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy or claim under or in
respect of or by virtue of this Purchase Warrant or any provisions herein contained.

 

9.5
Governing Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant
shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to
conflict of laws principles thereof to the extent that the general application of the laws of another jurisdiction would be required
thereby. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this
Purchase Warrant shall be brought and enforced in the New York Supreme Court, County of New York, or in the United States District
Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any
process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail,
return receipt requested, postage prepaid, addressed to it at the address set forth in Section 8 hereof. Such mailing shall be
deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the
Holder agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its
reasonable attorneys’ fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation
therefor. The Company (on its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates)
and the Holder hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury
in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

 

    8

     

    

 

9.6
Waiver, etc. The failure of the Company or the Holder to at any time enforce
any of the provisions of this Purchase Warrant shall not be deemed or construed to be a waiver of any such provision, nor to in
any way affect the validity of this Purchase Warrant or any provision hereof or the right of the Company or any Holder to thereafter
enforce each and every provision of this Purchase Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of
the provisions of this Purchase Warrant shall be effective unless set forth in a written instrument executed by the party or parties
against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment
shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment.

 

9.7
Execution in Counterparts. This Purchase Warrant may be executed in one or
more counterparts, and by the different parties hereto in separate counterparts, each of which shall be deemed to be an original,
but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts
has been signed by each of the parties hereto and delivered to each of the other parties hereto. Such counterparts may be delivered
by facsimile transmission or other electronic transmission.

 

[Signature
Page Follows]

 

    9

     

    

 

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

 

	[________]	 
	 	 
	 	 
	Name:	 
	Title:	 

 

    10

     

    

 

[Form
to be used to exercise Purchase Warrant]

 

Date:
                               20

 

The
undersigned hereby elects irrevocably to exercise the Purchase Warrant for shares of common stock, par value $0.001 per share
(the “Shares”), of [________] (the “Company”),
and hereby makes payment of $ (at the rate of $ per Share) in payment of the Exercise Price pursuant thereto. Please issue the
Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new
Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been exercised.

 

or

 

The
undersigned hereby elects irrevocably to convert its right to purchase_______________ Shares of the Company under the Purchase
Warrant for Shares, as determined in accordance with the following formula:

 

	 	X
    =	Y(A-B)	 
	 	 	A	 
	 	 	 
	Where,	X
    =	The
    number of Shares to be issued to Holder;
	 	Y=	The
    number of Shares for which the Purchase Warrant is being
	exercised;	 	 
	 	A=	The
    fair market value of one Share which is equal to $___________ ;
	and	B
    =	 

 

The
Exercise Price which is equal to $ per share

 

The
undersigned agrees and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement
with respect to the calculation shall be resolved by the Company in its sole discretion.

 

Please
issue the Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable,
a new Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been converted.

 

Signature

 

    11

     

    

 

INSTRUCTIONS
FOR REGISTRATION OF SECURITIES

 

	Name: 	 	 
	 	(Print in Block Letters)	 

 

Address:

 

NOTICE:
The signature to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or
enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by
a firm having membership on a registered national securities exchange.

 

    12

     

    

 

[Form
to be used to assign Purchase Warrant]

 

ASSIGNMENT

 

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

 

FOR
VALUE RECEIVED,________________________ does hereby sell, assign and transfer unto the right to purchase shares of common stock,
par value $0.001 per share, of [________] (the “Company”), evidenced
by the Purchase Warrant and does hereby authorize the Company to transfer such right on the books of the Company.

 

Dated:____________
, 20

 

Signature

 

NOTICE:
The signature to this form must correspond with the name as written upon the face of the within Purchase Warrant without alteration
or enlargement or any change whatsoever.

 

    13

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