Document:

SUBSCRIPTION AGREEMENT

 

THIS
SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of June 12, 2013, is by and between Akers
Biosciences, Inc., a corporation incorporated under the laws of the State of New Jersey and located at 201 Grove Road, Thorofare,
New Jersey 08086 USA (the “Company”), and CHUBEWORKX GUERNSEY LIMITED, a company
incorporated in Guernsey with registration number 55801 with its registered office at 18-20 Le Pollet, St Peter Port, Guernsey,
GY1 1WH, Channel Islands (“Chubeworkx” or the “Subscriber”). The
Company and the Subscriber are sometimes collectively referred to herein as the “Parties” and individually referred
to herein as a “Party.”

 

WHEREAS, the
Company and the Subscriber are executing and delivering this Agreement in reliance upon an exemption from securities registration
afforded by the provisions of Section 4(a)(2) and/or Regulation D (“Regulation D”) promulgated by the United
States Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the
“Securities Act”); and

 

WHEREAS, the
Parties desire that, upon the terms and subject to the conditions contained herein and upon the satisfaction of all of the Conditions
Precedent (as such term is defined in Section 2 of this Agreement) and in accordance with Section 3, the Company shall issue and
sell to the Subscriber, and the Subscriber shall purchase, the aggregate number of shares of Common Stock in the Company of without
par value , as is set forth on the signature page hereto (the “Shares”) for an aggregate purchase price of $1,600,000
(the “Purchase Price”).

 

NOW, THEREFORE,
in consideration of the mutual covenants and other agreements contained in this Agreement, the Company and the Subscriber hereby
agree as follows:

 

1.          Purchase
and Sale. Upon the terms and subject to the conditions set forth in this Agreement, the Company hereby agrees to issue and
allot the Shares to the Subscriber free of all liens, pledges, mortgages, security interests, options, rights to acquire, rights
of pre-emption, charges, restrictions, adverse claims or other encumbrances of any kind or nature whatsoever (collectively, “Encumbrances”
and individually, an “Encumbrance”), and the Subscriber hereby agrees to purchase the Shares, conditional upon
admission of the Shares to trading on the AIM market of the London Stock Exchange plc (“AIM”) (“Admission”),
and accept delivery from the Company, for the Purchase Price.

 

2.          Conditions
Precedent. As a condition precedent to the obligations of the Parties contained herein, (i) the Subscriber shall complete,
execute and deliver to the Company the investor questionnaire, in the form of Exhibit A attached hereto, (ii) the Subscriber,
the Company and Thomas Knox shall have executed and delivered the Voting Agreement in the form attached hereto as Exhibit B
(the “Voting Agreement”), (iii) Raymond Akers, Jr., Thomas A. Nicolette and the Company shall have executed
and delivered the agreement in the form attached hereto as Exhibit C, (iv) the Parties shall each deliver any and all evidence
of corporate authorization or other appropriate documentation as may be requested by the other Party in its reasonable discretion,
and (v) the Subscriber (as successor to Sono International Limited), the Company, (EN)10 (Guernsey) Limited and (EN)10 Limited
shall enter into a letter of amendment to revise the terms of the licence and supply agreement between them dated 19 June 2012
(together, the “Conditions Precedent”). Both parties agree and undertake to fulfill the Conditions Precedent
on their part within three (3) business days of the signing of this Agreement.

 

    	 

    	 

    

 

3.          Completion.
The Subscriber agrees to deposit the Purchase Price with its lawyers, Simmons & Simmons LLP of CityPoint, One Ropemaker Street,
London, EC2Y 9SS, United Kingdom, immediately following the satisfaction or waiver of the Conditions Precedent outlined in Section
2, above. On confirmation of the receipt of funds from Simmons & Simmons LLP, the Company undertakes to (i) issue the Shares,
conditional upon Admission; (ii) instruct the registrar to allot the Shares to the Subscriber in the register of members and issue
a share certificate to the Subscriber; and (iii) to submit an application to AIM for the admission of the Shares to trading. Completion
will occur on the day the Shares are issued and admitted to trading on AIM, which is expected to be not more than eight (8) business
days following the date of the Agreement, and, following receipt of confirmation from the Company’s nominated adviser that
Admission has occurred, the Subscriber undertakes to instruct Simmons & Simmons LLP to immediately transfer the Purchase Price
to the Company’s bank account by wire transfer in accordance with the wiring instructions set forth in Schedule 3
to this Agreement.

 

4.          Subscriber
Representations and Warranties. The Subscriber hereby represents and warrants to and agrees with the Company that:

 

(a)          Standing
of Subscriber. The Subscriber is duly incorporated, validly existing and in good standing under the laws of the jurisdiction
of its formation;

 

(b)          Authorization
and Power. The Subscriber has the requisite power and authority to enter into and perform this Agreement and to purchase the
Shares. The execution, delivery and performance of this Agreement by the Subscriber and the consummation by the Subscriber of
the transactions contemplated hereby have been duly authorized by all necessary company action, and no further consent or authorization
of the Subscriber, its board of directors or similar governing body, or stockholders is required, as applicable. This Agreement
has been duly authorized, executed and delivered by the Subscriber and constitutes, or shall constitute when executed and delivered,
a valid and binding obligation of the Subscriber, enforceable against the Subscriber in accordance with the terms thereof,
except as may be limited by bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’
rights generally, or principles of equity;

 

(c)         No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions
contemplated herein do not and will not result in a violation of Subscriber’s constitutional documents, articles of association
or other organizational documents, as applicable;

 

    	 

    	 

    

 

(d)          Information
on Subscriber. The Subscriber is an “accredited investor,” as such term is defined in Rule 501(a) of Regulation
D promulgated by the Commission under the Securities Act and affirmed by the Subscriber in the pro forma Purchaser Questionnaire
attached hereto as the Exhibit A, is experienced in investments and business matters, has made investments of a speculative
nature, with its representatives, has such knowledge and experience in financial, tax and other business matters as to enable
the Subscriber to utilize the information made available by the Company to evaluate the merits
and risks of and to make an informed investment decision with respect to the proposed purchase, which represents a speculative
investment. The Subscriber is able to bear the risk of such investment for an indefinite period and to afford a complete loss
thereof. The Subscriber is not required to be registered as a broker-dealer under Section 15 of the Securities Exchange Act of
1934, as amended;

 

(e)          Purchase
of Shares. The Subscriber will purchase the Shares for its own account for investment and
not with a view toward, or for resale in connection with, the public sale or any distribution thereof in violation of the Securities
Act or any applicable state securities law, and has no direct or indirect arrangement or understandings with any other person
or entity to distribute or regarding the distribution of such Shares;

 

(f)          Compliance
with Securities Act. The Subscriber understands and agrees that the Shares are “restricted securities” and have
not been registered under the Securities Act or any applicable state securities laws by reason of their issuance in a transaction
that does not require registration under the Securities Act and that such Shares must be held indefinitely unless a subsequent
disposition is registered under the Securities Act or any applicable state securities laws or is exempt from such registration;

 

(g)          Legend
for the Shares of the Subscriber. The Shares shall bear the following legend:

 

“THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR
ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER AND REASONABLY APPROVED BY THE COMPANY), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

(h)          Communication
of Offer. The Subscriber has a preexisting personal or business relationship with the Company or one or more of its
directors, officers, advisors or control persons, and the offer to issue the Shares was directly communicated
to the Subscriber by the Company. At no time was the Subscriber presented with or solicited by any leaflet, newspaper or magazine
article, radio or television advertisement, or any other form of general advertising or solicited or invited to attend a promotional
meeting otherwise than in connection and concurrently with such communicated offer;

 

    	 

    	 

    

 

(i)          No
Governmental Endorsement. The Subscriber understands that no United States federal or state agency or any other governmental
or state agency has passed on or made recommendations or endorsement of the Shares, or the suitability
of the investment in the Shares, nor have such authorities passed upon or endorsed the merits
of the offering of the Shares;

 

(j)          Receipt
of Information. The Subscriber believes it has received all the information it considers necessary or appropriate for deciding
whether to purchase the Shares. The Subscriber further represents that through its representatives it has had an opportunity to
ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Shares and the business,
properties and financial condition of the Company and to obtain additional information (to the extent the Company possessed such
information or could acquire it without unreasonable effort or expense) necessary to verify the accuracy of any information furnished
to it or to which it had access; and

 

(k)          No
Market Manipulation. The Subscriber has not taken, and will not take, directly or indirectly, any action designed to, or that
might reasonably be expected to, cause or result in stabilization or manipulation of the price of the Shares, to facilitate the
sale or resale of the Shares or affect the price at which the Shares may be issued or resold.

 

4.          Company
Representations and Warranties. The Company represents and warrants to, and agrees with, the Subscriber that:

 

(a)          Due
Incorporation. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of New
Jersey, it has the requisite corporate power and authority to own and operate its properties and assets and to carry on its business
as presently conducted (including being qualified and in good standing in each jurisdiction in which it operates).

 

(b)          Authority;
Enforceability. The Company has the requisite power and authority to enter into and perform this Agreement and to issue the
Shares and apply to AIM for Admission. The execution, delivery and performance of this Agreement by the Company and the consummation
by the Company of the transactions contemplated hereby have been duly authorized by all necessary company action, and no further
consent or authorization of the Company, its board of directors or similar governing body, or stockholders is required, as applicable.
This Agreement has been duly authorized, executed and delivered by the Company and constitutes, or shall constitute when executed
and delivered, a valid and binding obligation of the Company, enforceable against the Company in accordance with the terms thereof,
except as may be limited by bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’
rights generally, or principles of equity;

 

    	 

    	 

    

 

(c)          Capitalization
and Additional Issuances; Indebtedness. The Company has authorized 500 million shares of common stock and 50 million shares
of Series A Preferred Stock. As of the date hereof, there are 198,715,666 shares of Common Stock issued and outstanding and 10,000,000
shares of Series A Preferred Stock issued and outstanding. All of the 198,715,666 outstanding shares of the Common Stock are, and
the Shares to be issued pursuant hereto are, duly authorized and validly issued, fully paid and non-assessable and are not (and
will not be) subject to preemptive or similar rights or any Encumbrance. All such shares were issued in compliance with all applicable
laws including state, federal and applicable international securities laws and the AIM Rules for Companies. The rights, preferences
and privileges of the shares of the Company are as stated in the certificate of incorporation.

 

(d)          Consents.
No consent, approval, authorization or order of any court, governmental agency or body having jurisdiction
over the Company or of any other person is required for the execution by the Company of this Agreement and compliance and performance
by the Company of its obligations hereunder and thereunder, including, without limitation, the issuance of the Shares;

 

(e)          No
Violation or Conflict. Neither the issuance and sale of the Shares nor the performance of the Company’s obligations under
this Agreement will:

 

(i)          violate,
conflict with, result in a breach of, or constitute a default (or an event which with the giving of notice or the lapse of time
or both would be reasonably likely to constitute a default) under (a) the Certificate of Incorporation, or Bylaws of the Company
or any other organizational documents of the Company or (b) any decree, judgment, order or determination applicable to the Company
of any court, governmental agency or body having jurisdiction over the Company or over the properties or assets of the Company;
or

 

(ii)         result
in the creation or imposition of Encumbrance of any kind or nature whatsoever upon the Shares
except in favor of the Subscriber as described herein;

 

(f)          The
Shares. Upon issuance, the Shares:

 

(i)          shall
be free and clear of any Encumbrances, subject only to restrictions upon transfer under the Securities
Act and any applicable state securities laws;

 

(ii)         shall
have been duly and validly issued, fully paid and non-assessable;

 

(iii)        will
not subject the holders thereof to personal liability by reason of being such holders;

 

(iv)        may
be freely traded on AIM.

 

    	 

    	 

    

 

(g)          No
General Solicitation. Neither the Company, nor any of its affiliates, nor any person or entity acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (as such terms are defined by Regulation D under the Securities
Act) in connection with the offer or sale of the Shares;

 

(h)          AIM
Compliance. The Company has complied with, and is not in violation of, the AIM Rules for Companies to which it is subject and
the issue of the Shares and Admission, in accordance with this Agreement comply with the AIM Rules for Companies. The Company has
filed all reports, schedules, forms, statements and other documents required to be filed by the Company with its nominated adviser
and AIM under all Laws (as defined below) applicable to the Company, for the three years preceding the date hereof (the foregoing
materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein
as the “AIM Reports”), on a timely basis or has received a valid extension of such time of filing and has filed
any such AIM Reports prior to the expiration of any such extension. As of their respective dates, the AIM Reports complied in all
material respects with the requirements of all applicable Laws, and none of the AIM Reports, when filed, contained any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading. The financial statements of the Company
provided to the Subscriber or included in the AIM Reports (the “Financial Statements”) comply in all material
respects with applicable accounting requirements and the rules and regulations of AIM with respect thereto as in effect at the
time of provision or filing. Such financial statements have been prepared in accordance with IFRS applied on a consistent basis
during the periods involved, except as may be otherwise specified in such financial statements or the notes thereto and except
that unaudited financial statements may not contain all footnotes required by IFRS, and fairly present in all material respects
the financial position of the Company and its consolidated subsidiaries, if any, as of and for the dates thereof and the results
of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end
audit adjustments.

 

(i)          Compliance.
(i) The Company has complied with each, and is not in violation of, any applicable law, statute, regulation, rule, ordinance or
order (“Laws”) to which the Company or its business, operations, employees, assets or properties are or have
been subject, the non-compliance with which would have a material adverse effect. To the Company’s knowledge, no event has
occurred or circumstances exist that (with or without the passage of time or the giving of notice) may result in a violation of,
conflict with or failure on the part of the Company to comply with, any Law. The Company has not received written notice regarding
any violation of, conflict with, or failure to comply with, any Law. The execution, delivery, and performance of this Agreement
and any agreements related thereto by the Company, and the sale, issuance and delivery of the Shares pursuant hereto will not,
with or without the passage of time or giving of notice, result in any such violation, or be in conflict with or constitute a default
under any Law; and (ii) The Company owns, holds, possesses or lawfully uses in the operation of its business all franchises, licenses,
permits and registrations (“Authorizations”) that are required or otherwise necessary for it to conduct its
business as currently conducted or for the ownership and use of the assets owned or used by the Company in the conduct of its business,
free and clear of all liens or other Encumbrances of any nature, except where the failure to possess such Authorizations would
not have a material adverse effect. To the Company’s knowledge, no event has occurred or circumstances exist that (with or
without the passage of time or the giving of notice) may result in a violation of, conflict with, failure on the part of the Company
to comply with the terms of, or the revocation, withdrawal, termination, cancellation, suspension or modification of any Authorization.
The Company has not received written notice regarding any violation of, conflict with, failure to comply with the terms of, or
any revocation, withdrawal, termination, cancellation, suspension or modification of, any Authorization. The Company is not in
material default and has not received written notice of any claim of such material default, with respect to any Authorization.

 

    	 

    	 

    

 

(j)          Litigation.
Except as publically disclosed in the AIM Reports, there is no litigation, arbitration, mediation or investigation pending or,
to the Company’s knowledge, threatened against the Company or affecting any of its properties or assets nor, to the Company’s
knowledge, (a) has there occurred any event nor (b) does there exist any condition on the basis of which any such litigation, arbitration,
mediation or investigation might be properly instituted or commenced. The Company is not a party or subject to the provisions of
any order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no action or suit
by the Company pending or, to the Company’s knowledge, threatened against the Company.

 

(k)          Liabilities.
The Company does not have and is not subject to any liability or obligation of any nature, except: (a) as disclosed on, or reflected
or reserved against in, the Financial Statements, (b) as are not required under GAAP to be disclosed on, or reflected or reserved
against in, financial statements, or (c) obligations to perform under commitments incurred in the ordinary course of business since
June 30, 2012.

 

(l)          Offering
Valid. Assuming the accuracy of the representations and warranties of the Subscriber contained in Section 4(b), the offer,
sale, issuance and delivery of the Shares will be exempt from the registration requirements of the Securities Act, and will have
been registered or qualified (or are exempt from registration and qualification) under the registration, permit or qualification
requirements of all applicable securities Laws, the AIM Rules for Companies and any other rules of any exchanges to which the Company
is subject.

 

(m)          Full
Disclosure. No representation or warranty or other statement made by the Company in this Agreement in connection with the contemplated
transactions contains any untrue statement of material fact or omits to state a material fact necessary to make the representations
and warranties set forth herein, in light of the circumstances in which they were made, not misleading.

 

5.          Proof
of Insurance. For so long as the Subscriber has an appointed representative serving on the Board of Directors of the Company
in accordance with the provisions of the Voting Agreement, the Company shall provide to the Subscriber upon request proof of directors
and officers liability insurance and fiduciary liability insurance providing insurance coverage to all directors serving on the
Board of Directors of the Company.

 

    	 

    	 

    

 

5.          Covenant
of the Company regarding Share Certificates and Registers. The Company agrees that as soon as reasonably practicable after
the execution of this Agreement, it will (i) register the Subscriber as the holder of the Shares, and (ii) deliver to the Subscriber
a definitive share certificate for the Shares in the name of the Subscriber.

 

7.          Broker’s
Commission/Finder’s Fee. Each Party represents to the other that there are no parties entitled to receive fees,
commissions, finder’s fees, due diligence fees or similar payments in connection with the consummation of the transactions
contemplated hereby. Each Party agrees to indemnify the other against and hold the other Party harmless from any and all liabilities
to any persons claiming brokerage commissions or similar fees on account of services purported to have been rendered on behalf
of the indemnifying Party in connection with this Agreement or the transactions contemplated hereby and arising out of the indemnifying
Party’s actions.

 

8.          Covenants
Regarding Indemnification. Each Party agrees to indemnify, hold
harmless, reimburse and defend the other Party and the other Party’s officers, directors, agents, counsel, affiliates, members,
managers, control persons, and principal shareholders, as applicable, against any claim, cost, expense, liability, obligation,
loss or damage (including reasonable legal fees) of any nature, incurred by or imposed upon the indemnified Party or any such person
which results, arises out of or is based upon (i) any breach of any representation or warranty by the indemnifying Party in this
Agreement or (ii) any breach or default in performance by the indemnifying Party of any covenant or undertaking to be performed
by the indemnifying Party.

 

9.          Miscellaneous.

 

(a)          Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, (iv) transmitted by
hand delivery or facsimile or (v) electronically, addressed as set forth in the preamble paragraph hereto or to such other address
as such Party shall have specified most recently by written notice. Any notice or other communication required or permitted to
be given hereunder shall be deemed effective (a) upon hand delivery at the address designated in the preamble paragraph hereto
(if delivered on a business day during normal business hours where such notice is to be received), or the first business day following
such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b)
on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address,
or upon actual receipt of such mailing, whichever shall first occur.

 

(b)          Public
Announcements. Except as attached hereto as Exhibit D or as may be required by applicable legal requirements or stock
exchange rules, no Party to this Agreement or any affiliate or representative of such Party shall make any public announcements
or otherwise communicate with any news media in respect of this Agreement without prior consent of the other Parties, such consent
not to be unreasonably withheld, and prior to any announcement or communication the Parties shall cooperate.

 

    	 

    	 

    

 

(c)          Confidentiality.
Except as may be required by applicable legal requirements or stock exchange rules, the Parties shall treat as strictly confidential
the provisions of this Agreement and the process of their negotiation and all other information about the other Party obtained
or received by it as a result of negotiating, entering into or performing its obligations under this Agreement, and such information
may not be disclosed without the prior written consent of the other Party.

 

(d)          Entire
Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and
may be amended only by a writing executed by both Parties. Neither the Company nor the Subscriber has relied on any representations
not contained or referred to in this Agreement and the documents delivered herewith.

 

(e)          Counterparts/Execution.
This Agreement may be executed in any number of counterparts and by the different signatories hereto on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument.
This Agreement may be executed by facsimile transmission, PDF, electronic signature or other similar electronic means with the
same force and effect as if such signature page were an original thereof.

 

(f)          Law
Governing this Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State
of New Jersey without regard to principles of conflicts of laws. Any action brought by either Party against the other Party concerning
the transactions contemplated by this Agreement shall be brought only in the state courts of the State of New Jersey or in the
federal courts located in the State of New Jersey. The Parties to this Agreement hereby irrevocably waive any objection to jurisdiction
and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon
forum non conveniens. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A
JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY
TRANSACTION CONTEMPLATED HEREBY. 

 

(g)          Severability.
In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid
or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each Party
hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in
connection with this Agreement by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence
of delivery) to such Party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any other manner permitted by law.

 

    	 

    	 

    

 

(h)          Counsel;
Ambiguities. Each Party and its counsel have participated fully in the review and revision of this Agreement. The Parties understand
and agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting Party shall not
apply in interpreting this Agreement. The language in this Agreement shall be interpreted as to its fair meaning and not strictly
for or against any Party.

 

(i)          Captions.
The captions of the various sections and paragraphs of this Agreement have been inserted only for the purposes of convenience;
such captions are not a part of this Agreement and shall not be deemed in any manner to modify, explain, enlarge or restrict any
of the provisions of this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Parties have
caused this Agreement to be executed on and as of the date set forth above.

 

	 	AKERS BIOSCIENCES, INC.	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 

 

	SUBSCRIBER:
	
         

        Name of Subscriber:

         

        CHUBEWORKX GUERSEY LIMITED

         

        Address:

        18-20 Le Pollet, St Peter Port, Guernsey, GY1 1WH 

Channel Islands

         

        Fax No.: ________________________________

         

        Taxpayer ID# (if applicable): ________________

         

        _________________________________________

        (Signature)

         

        By: _____________________________________

         

        Dated: _____________, 2013

         

        Number of Shares: 80,000,000 (Common Stock)

         

        Aggregate Purchase Price: $1,600,000

         

        (No. Shares x purchase price per Share)

 

[Signature Page to Subscription Agreement]

 

    	 

    	 

    

 

SCHEDULE 3

 

COMPANY WIRING INSTRUCTIONS

 

 

 

 

 

 

 

  

For Credit to: 

Account Number: 

 

    	 

    	 

    

 

EXHIBIT A

 

INVESTOR QUESTIONAIRE 

 

 

PURCHASER QUESTIONNAIRE

 

Purpose of this Questionnaire.

 

Shares of common stock,
par value $.001 per share, of Akers Biosciences, Inc., a New Jersey corporation (the “Company”), are being offered
without registration under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of
certain states, in reliance on the private offering exemption contained in Rule 506 of the Securities Act and on Regulation D of
the Securities and Exchange Commission thereunder (“Regulation D”), and in reliance on similar exemptions under certain
applicable state laws. The purpose of this Purchaser Questionnaire is to assure the Company that the proposed purchaser meets the
standards imposed for the application of such exemptions, including, but not limited to, whether the proposed purchaser qualifies
as an “accredited investor,” as defined in Rule 501 under the Securities Act, or a “sophisticated investor,”
as defined in Rule 506 under the Securities Act. Your answers will at all times be kept strictly confidential. However, by signing
this Purchaser Questionnaire, you agree that the Company may present this Purchaser Questionnaire to such parties as the Company
may deem appropriate if called upon under applicable law to establish the availability of any exemption from registration of the
private placement, or if the contents hereof are relevant to any issue in any action, suit or proceeding to which the Company is
a party or by which it may be bound. The undersigned realizes that this Purchaser Questionnaire does not constitute an offer by
the Company to sell shares of its common stock, but is a request for information.

 

THE COMPANY WILL NOT OFFER OR SELL SHARES
TO ANY INDIVIDUAL WHO HAS NOT FILLED OUT, AS THOROUGHLY AS POSSIBLE, A PROSPECTIVE PURCHASER QUESTIONNAIRE.

 

Instructions:

 

One (1) copy of this Purchaser Questionnaire
should be completed, signed, dated and delivered to:

 

Akers Biosciences, Inc.

201 Grove Road

Thorofare, New Jersey USA 08086

Attn: Thomas A, Nicolette

 

Please contact Mr. Thomas A. Nicolette
at (856) 848-2116, if you have any questions with respect to this Purchaser Questionnaire.

 

PLEASE ANSWER ALL QUESTIONS. If the appropriate
answer is “None” or “Not Applicable,” so state. Please print or type your answers to all questions. Attach
additional sheets if necessary to complete your answers to any item.

 

    	 

    	 

    

 

		I.	General Information:

 

Name:   _____________________________________________________________________________

 

Date of Birth:   ______________________________________________________________________

 

Residence Address:   _________________________________________________________________

 

____________________________________________________________

 

Business Address:    ___________________________________________________________________

 

__________________________________________________________________

 

Home Telephone No.:   ________________________________________________________________

 

Business Telephone No:   ____________________________________________________________

 

E-mail Address:   ___________________________________________________________________

 

Preferred Mailing Address:   ________
Business   or _________   Home (check one)

 

Social Security Number:   ____________________________________________________________

 

Marital Status:   ____________________________________________________________________

 

		II.	Financial Condition:

 

1.            Did your individual annual income during
each of 2010 and 2009 exceed $200,000, and do you reasonably expect your individual annual income during 2011 to exceed $200,000?

 

Yes _______       No _______

 

2.            Did your joint (with spouse) annual
income during each of 2010 and 2009 exceed $300,000, and do you reasonably expect your joint annual income during 2011 to exceed
$300,000?

 

Yes _______       No _______

 

3.            Does your individual net worth, or joint
net worth with your spouse, at the time of purchase, exceed $1,000,000, excluding the value of your primary residence, calculated
by subtracting from the estimated fair market value of the property the amount of debt secured by the property, up to the estimated
fair market value of the property?

 

Yes _______        No _______

 

4.            The undersigned is a director or executive
officer of the Company which is issuing and selling the shares of common stock.

 

Yes
_______       No _______ 

 

    	 

    	 

    

 

5.             The undersigned is a bank or a savings
and loan association, whether acting in its individual or fiduciary capacity; broker dealer; insurance company; investment company
registered under the Investment Company Act of 1940 or a business development company as defined in said Act; small business investment
company (“SBIC”) licensed by the U.S. Small Business Administration; plan established or maintained by a state, its
political subdivision or any agency or instrumentality thereof maintained for the benefit of its employees, if such plan has total
assets in excess of $5,000,000; any employee benefit plan within the meaning of Title 1 of ERISA, if the investment decision is
made by a plan fiduciary which is either a bank, savings and loan association, insurance company or registered investment advisor,
or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self directed plan, with investment decisions
made solely by persons that are accredited subscribers. (Describe entity below)

 

	 	 	 	 
	 	 	 	 

6.             The undersigned is a private business
development company as defined in Section 202(a)(22) of the Investment Advisors Act of 1940. (Describe entity below)

 

	 	 	 	 
	 	 	 	 

7.              The undersigned is a corporation,
partnership, Massachusetts business trust or non-profit organization within the meaning of Section 501(c)(3) of the Internal Revenue
Code, in each case not formed for the specific purpose of acquiring the Company’s shares of common stock and with total assets
in excess of $5,000,000. (Describe entity below)

 

	 	 	 	 
	 	 	 	 

8.             The undersigned is a trust with total
assets in excess of $5,000,000 and not formed for the specific purpose of acquiring the Company’s common stock, where the
purchase is directed by a “sophisticated person” as defined in Regulation 506(b)(2)(ii) under the Securities Act.

 

  Yes _______     No _______

9.             The undersigned is an entity (other
than a trust) of which all of the equity owners are “accredited investors” within one or more of the above categories.
If relying upon this Category 9 alone, each equity owner must complete a separate copy of this Agreement. (Describe entity below)

 

	 	 	 	 
	 	 	 	 

 

10.             The undersigned is not within any
of the categories above and is therefore not an accredited investor.

 

   Yes _______    No _______

 

The undersigned agrees that the
undersigned will notify the Company at any time on or prior to the date of termination of the offering in the event that the representations
and warranties made by the undersigned in this purchaser questionnaire shall cease to be true, accurate and/or complete.

 

		III.	Suitability (Please
answer each question below)

 

(a)           For an individual subscriber, please
describe your current employment, including the company by which you are employed and its principal business:

  

________________________________________________________________________________________________________________

 

    	 

    	 

    

 

 ________________________________________________________________________________________________________________

 ____________________________________________

 

(b)            For an individual subscriber, please
describe any college or graduate degrees held by you:

________________________________________________________________________________________________________________

 ________________________________________________________________________________________________________________

 ____________________________________________

 

(c)            For all subscribers, please list
types of prior investments:

________________________________________________________________________________________________________________

 ________________________________________________________________________________________________________________

 ____________________________________________

 

(d)           For all subscribers, please state
whether you have participated in any other private placements before:

 

YES_______   NO_______

 

(e)            If your answer to question (d) above
is “YES”, please indicate frequency of such prior participation in private placements of:

 

	 	 	Public	 	Private	 	 
	 	 	Companies	 	Companies	 	Public or Private
	 	 	 	 	 	 	 
	Frequently	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Occasionally	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Never	 	 	 	 	 	 

 

(f)           For individual subscribers, do you
expect your current level of income to significantly decrease in the foreseeable future:

 

YES_______    NO_______

 

(g)           For trust, corporate, partnership
and other institutional subscribers, do you expect your total assets to significantly decrease in the foreseeable future?

 

YES_______   NO_______

 

(h)           For all subscribers, do you have
any other investments or contingent liabilities which you reasonably anticipate could cause you to need sudden cash requirements
in excess of cash readily available to you:

 

YES_______   
NO _______

 

(i)           For all subscribers, are you familiar
with the risk aspects and the non-liquidity of investments such as the securities for which you are seeking to subscribe?

 

  YES_______   
NO_______

 

    	 

    	 

     

(j)            For all subscribers, do you understand
that there is no guarantee of financial return on this investment and that you run the risk of losing your entire investment?

 

YES_______   NO_______

 

		IV.	FINRA AFFILIATION.

 

Are you affiliated or associated with a
FINRA member firm (please check one):

 

Yes _________   No __________

 

If yes, please describe:

_________________________________________________________

_________________________________________________________

_________________________________________________________

 

If subscriber is a Registered Representative
with a FINRA member firm, have the following acknowledgment signed by the appropriate party:

 

The undersigned FINRA member firm acknowledges
receipt of the notice required by the Rules of Fair Practice.

 

	 	 	 
	Name of FINRA Member Firm	 	 
	By: 	 	 	Date: 	 
	 	Authorized Officer	 	 

 

    	 

    	 

    

 

By signing this Purchaser Questionnaire,
I hereby confirm the following statements:

 

(i)            I am aware that the offering
of shares of common stock of the Company will involve securities that are not transferable and for which no market exists, thereby
requiring my investment to be maintained for an indefinite period of time;

 

(ii)            I acknowledge that any delivery
to me of any offering materials relating to the shares of common stock of the Company prior to the determination by the Company
of my suitability as an investor shall not constitute an offer of such shares until such determination of suitability shall be
made, and I agree that I shall promptly return the offering materials to the Company upon request; and

 

(iii)            My answers to the foregoing
questions are, and were on any date (if any) that I previously subscribed for shares of common stock of the Company, true and complete
to the best of my information and belief and were true on any date that I previously subscribed for shares of common Stock of the
Company, and I will promptly notify the Company of any changes in the information I have provided.

 

Executed:

 

	Date:________________  	 
	 	 
	 	 
	(Printed Name)	 
	 	 
	Place:  ____________________________________	 
	 	 
	 	 
	(Signature)	 
	 	 
	 	 
	(Printed Name of Joint Subscriber)	 

  

    	 

    	 

    

 

EXHIBIT B

 

VOTING RIGHTS AGREEMENT  

 

THIS VOTING AGREEMENT
(this “Agreement”), made as of the 12th day of June, 2013, is by and among AKERS BIOSCIENCES, INC., a corporation
incorporated under the laws of the State of New Jersey and located at 201 Grove Road, Thorofare, New Jersey 08086 USA
(the “Company”), THOMAS J. KNOX, an individual residing at 50 South 16th Street, Suite 4604, Philadelphia,
Pennsylvania 19102 (“Knox” or the “Key Shareholder”) and CHUBEWORKX GUERNSEY LIMITED, a company incorporated
in Guernsey with registration number 55801 with its registered office at 18-20 Le Pollet, St Peter Port, Guernsey, GY1 1WH, Channel
Islands (the “Investor”). The Company, Knox and the Investor are sometimes collectively referred to herein as the “Parties”
and individually referred to herein as a “Party.”

 

WITNESSETH:

 

WHEREAS, the
Company and the Investor are parties to a Subscription Agreement of even date herewith (the “Subscription Agreement”),
pursuant to which the Company has agreed to sell and the Investor has agreed to purchase 80,000,000 shares of Common Stock of the
Company (the “Investor Shares”);

 

WHEREAS, the
obligations of the Investor in the Subscription Agreement are conditioned upon the execution and delivery of this Agreement by
Knox and the Company; and

 

WHEREAS,
in order to induce the Investor to enter into the Subscription Agreement and invest funds in the Company pursuant thereto, the
Parties desire to enter into this Agreement to set forth their agreements and understandings with respect to how shares of the
Company’s capital stock held by them will be voted and to set forth certain other agreements between the Parties.

 

NOW, THEREFORE,
in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties agree as follows:

 

1.          Agreement
to Vote. The Key Shareholder and the Investor, as holders of Preferred Stock or Common Stock of the Company, each hereby agrees
on behalf of itself and any transferee or assignee of any such shares of such Common Stock or Preferred Stock constituting a Related
Party (as such term is defined below in this Section 1), to hold all of such shares of Common Stock and Preferred Stock and any
other securities of the Company acquired by the Key Shareholder or the Investor in the future, including without limitation any
shares of Common Stock or Preferred Stock of the Company acquired by the Key Shareholder or the Investor pursuant to any stock
option, warrant or any other instrument (and any securities of the Company issued with respect to, upon conversion of, or in exchange
or substitution for such Preferred Stock, Common Stock or other securities) (the “Shares”) subject to, and to vote
the Shares at a regular or special meeting of stockholders (or by written consent) in accordance with, the provisions of this Agreement.
For purposes of this Agreement, a “Related Party” shall mean (a) any present or former known spouse, ancestor
or descendant of the Key Shareholder or any trust or other similar entity for the benefit of any of the foregoing persons, (b)
any person or entity directly or indirectly controlled by the Key Shareholder or the Investor or (c) any person or entity directly
or indirectly controlling, controlled by or under common control with, the Company. For the purposes of this definition, “control”
(including, with correlative meaning, the terms “controlling,” “controlled by” and “under common
control with”) shall mean the possession, directly or indirectly, of the power to direct or cause the direction of management
and policies of an entity, whether through the ownership of voting securities, by contract or otherwise.

 

    	 

    	 

    

 

2.          Company
Independence. The Key Shareholder and the Investor each separately undertake that they will take all necessary actions to ensure
that the Company maintains independence with each of the Key Shareholder and its Related Parties (in the case of the Key
Shareholder) and the Investor and its Related Parties (in the case of the Investor), in connection with
all of the Company’s business operations and the AIM Rules (in particular AIM Rule 13).

 

3.          Board
Size. The Key Shareholder shall vote at a regular or special meeting of stockholders (or by written consent) such Shares that
the Key Shareholder owns (or as to which the Key Shareholder has voting power), and the Company and the Key Shareholder shall take
all other actions necessary to ensure that at all times, (a) the size of the Board shall be a maximum of five (5) directors and
(b) the Company’s organizational documents specify that each director has equal rights to each other director, including
without limitation voting in favor of any amendment to the Certificate of Incorporation or Bylaws of the Company that may be necessary
under applicable law in order to legally and effectively implement all of the requirements under this Section 3. The Company and
the Key Shareholder further agree to take any and all other actions that may be necessary under applicable law in order to implement
the requirements of this Section 3, including without limitation calling any special meetings of the shareholders and/or Board
of Directors and/or entering into written consents of the shareholders and/or Board of Directors as necessary in order to effectively
implement the requirements of this Section 3. The Company and the Key Shareholder warrant and agree that the requirements set forth
above in this Section 3 shall be implemented as soon as reasonably and practically possible following the Company’s next
annual general shareholders’ meeting which is currently anticipated to be held in July 2013 (“AGM”), provided,
however, that the requirements set forth above in this Section 3 shall be implemented by no later than thirty (30) calendar days
following such AGM.

 

4.          Election
and Removal of Directors. On all matters relating to the election of one or more directors of the Company, each of the
Key Shareholder and the Investor shall vote at regular or special meetings of shareholders and give written consent with respect
to, such number of Shares then owned by them (or as to which they then have voting power) as may be necessary to elect the following
individuals to the Board:

 

(a)          at
each election of directors in which the holders of any series of Preferred Stock of the Company (“Preferred Stock”),
voting as a separate class, are entitled to elect directors of the Company, for so long as the Investor continues to hold shares
of Common Stock of the Company entitling the Investor to ten percent (10%) or more of the voting rights with respect to the Company,
the Key Shareholder shall vote all of its Shares comprised of Preferred Stock so as to elect one (1) individual designated by the
Investor, subject only to approval of the designated individual by the AIM market of the London Stock Exchange plc (“AIM”);

 

    	2

    	 

    

 

(b)          at
each election of directors in which the holders of Common Stock, voting as a separate class, are entitled to elect directors of
the Company, for so long as the Investor continues to hold shares of Common Stock of the Company entitling
the Investor to ten percent (10%) or more of the voting rights with respect to the Company, the Key Shareholder shall vote
all of its Shares comprised of Common Stock so as to elect one (1) individual designated by the Investor,
subject only to approval of the designated individual by AIM;

 

(c)          at
each election of directors in which the holders of Common Stock, voting as a separate class, are entitled to elect directors of
the Company, for so long as a Key Shareholder continues to hold shares of Common Stock and/or Preferred
Stock of the Company entitling such Key Shareholder to ten percent (10%) or more of the voting rights with respect to the Company,
the Investor shall vote all of its Shares comprised of Common Stock so as to elect one (1) individual
designated by such Key Shareholder, subject only to approval of the designated individual by AIM; 

 

(d)          at
each election of directors in which the holders of Common Stock and holders of Preferred Stock, voting together as a single class
on an as-converted basis, are entitled to elect directors of the Company, for so long as the Investor
continues to hold shares of Common Stock of the Company entitling the Investor to ten percent (10%) or more of the voting rights
with respect to the Company, the Key Shareholder shall vote all of its Shares so as to elect
one (1) individual designated by the Investor, subject only to approval of the designated individual by AIM; and 

 

(e)          at
each election of directors in which the holders of Common Stock and holders of Preferred Stock, voting together as a single class
on an as-converted basis, are entitled to elect directors of the Company, for so long as a Key Shareholder
continues to hold shares of Common Stock and/or Preferred Stock of the Company entitling such Key Shareholder to ten percent (10%)
or more of the voting rights with respect to the Company, the Investor shall vote all of its Shares comprised of Common
Stock so as to elect one (1) individual designated by such Key Shareholder, subject only to approval
of the designated individual by AIM.

 

For purposes of this
Agreement, any individual, entity, or group or class of individuals and/or entities who has or have the right to designate a director
for election to the Company’s Board of Directors pursuant to the provisions of this Section 4 is hereinafter referred to
as a “Designator” or as “Designators” or, when referring to one or more Designators, “Designator(s)”
as applicable, and any such designee shall hereinafter be referred to as a “Designee.”

 

The Key Shareholder
and the Investor both separately agree that they will each not exercise their voting rights with respect to any Shares held by
them, and that they each shall use best efforts to ensure that any of their respective Related Parties will not exercise any of
the voting rights of such Related Parties with respect to the Shares held by them, for the purposes of (i) calling any meeting
of the shareholders of the Company at which the removal of any Designee of the Key Shareholder or the Investor as a member of the
Board of Directors of the Company is to be voted upon, without the prior written consent of the Party whose Designee is the subject
of removal from the Board of Directors, (ii) voting in favor of the removal of any Designee of the Key Shareholder or the Investor
as a member of the Board of Directors of the Company at any meeting of the Shareholders of the Company at which the removal of
any Designee of the Key Shareholder or the Investor as a member of the Board of Directors of the Company is to be voted upon, without
the prior written consent of the Party whose Designee is the subject of removal from the Board of Directors, or (iii) otherwise
approving any written consent of the shareholders of the Company seeking to remove any Designee of the Key Shareholder or the Investor
as a member of the Board of Directors of the Company, without the prior written consent of the Party whose Designee is the subject
of removal from the Board of Directors.

 

    	3

    	 

    

 

The Parties further agree
that within three (3) business days of the date of this Agreement, the Company and the Key Shareholder
shall take any and all necessary actions to elect Gavin Moran as the Investor’s initial Designee on the Company’s Board
of Directors.

 

5.            Changes
in Designees. From time to time during the term of this Agreement, Designator(s) may, in their sole discretion:

 

(a)          elect
to initiate a removal from the Company’s Board of Directors any incumbent Designee who occupies a Board seat for which such
Designator(s) are entitled to designate the Designee under Section 4; and/or

 

(b)          designate
a new Designee for election to a Board seat for which such Designator(s) are entitled to designate the Designee (whether to replace
a prior Designee or to fill a vacancy in such Board seat);

 

provided such removal
and/or designation of a Designee is approved in writing signed by the Designator or Designators entitled to designate such Designee
under Section 4, in which case such election to remove Designee and/or elect a new Designee will be binding on the Key Shareholder
or the Investor, as applicable. In the event of such an initiation of a removal or designation of a Designee under this Section
5, the Key Shareholder or the Investor, as the case may be, shall vote their respective Shares, as applicable, to cause: (i) the
removal from the Company’s Board of Directors of the Designee or Designees so designated for removal; and (ii) the election
to the Company’s Board Directors of any new Designee or Designees so designated for election to the Company’s Board
of Directors by the appropriate Designator or Designators. The Company shall take such reasonable actions as are necessary to facilitate
such removals or elections, including, without limitation, including the Designee in each slate of nominees proposed to the shareholders
of the Company and recommending his or her election to the Board of Directors and soliciting the votes of the appropriate Key Shareholder
and the Investor, and the Key Shareholder and the Investor shall vote all of their respective Shares entitled to vote at such meeting
or in connection with such consent in favor of such removals or elections. Any vote taken to remove any Designee elected pursuant
to Section 4, or to fill any vacancy created by the resignation, removal or death of a Designee elected pursuant to Section 4,
shall be subject to the provisions of this Agreement, including without limitation Section 4 and this Section 5.

 

    	4

    	 

    

 

6.          Additional
Changes to Organizational Documents. The Key Shareholder shall vote at a regular or special meeting of stockholders (or by
written consent) all of the Shares held by the Key Shareholder, and the Company and the Key Shareholder shall otherwise take all
actions necessary to ensure that at all times up to the time which is immediately prior to the issuance of capital stock of the
Company in connection with its first offering of Common Stock pursuant to an effective registration statement under the Securities
Act of 1933, as amended, the unanimous approval of the Board of Directors of the Company shall be required for any issuance by
the Company of any new shares of capital stock of the Company or any instruments convertible into shares of capital stock of the
Company (including any such issuance of shares of capital stock of the Company in connection with its first offering of Common
Stock of the Company pursuant to an effective registration statement under the Securities Act of 1933, as amended), including without
limitation voting in favor of any amendment to the Certificate of Incorporation or Bylaws of the Company that may be necessary
in order to effectively implement the requirements of this Section 6; provided, however, that the Parties acknowledge and agree
that the termination of the above requirements as of immediately prior to the issuance of capital stock of the Company in connection
with its first offering of Common Stock pursuant to an effective registration statement under the Securities Act of 1933, as amended,
shall not occur until after the Board of Directors of the Company has already granted final approval of such first offering of
Common Stock and the issuance of shares of Common Stock in connection therewith. The Key Shareholder shall vote at a regular or
special meeting of stockholders (or by written consent) all of the Shares held by the Key Shareholder, and the Company and the
Key Shareholder shall otherwise take all actions necessary, at all times up to the time which is immediately prior to the issuance
of capital stock of the Company in connection with its first offering of Common Stock pursuant to an effective registration statement
under the Securities Act of 1933, as amended, to ensure that any change or amendment to the organizational documents of the Company
providing for the removal of the requirements in the immediately preceding sentence shall require either (i) the unanimous approval
of the members of the Board of Directors or (ii) approval of the holders of at least a majority of the outstanding shares of capital
stock of the Company; provided, however, that the Parties acknowledge and agree that the termination of the above requirements
as of immediately prior to the issuance of capital stock of the Company in connection with its first offering of Common Stock pursuant
to an effective registration statement under the Securities Act of 1933, as amended, shall not occur until after the Board of Directors
of the Company has already granted final approval of such first offering of Common Stock and the issuance of shares of Common Stock
in connection therewith. The Key Shareholder further agrees that the Key Shareholder shall not vote at any regular or special meeting
of stockholders (or by written consent) in favor of any amendment or change to any of the organizational documents of the Company
that seeks to remove any of the requirements of this Section 6. The Company and the Key Shareholder further agree to take any and
all other actions that may be necessary under applicable law in order to implement the requirements of this Section 6, including
without limitation calling any special meetings of the shareholders and/or Board of Directors and/or entering into written consents
of the shareholders and/or Board of Directors as necessary under applicable law in order to effectively implement the requirements
of this Section 6. The Company and the Key Shareholder warrant and agree that the requirements set forth above in this Section
6 shall be implemented as soon as reasonably and practically possible following the Company’s next AGM, provided, however,
that the requirements set forth above in this Section 3 shall be implemented by no later than thirty (30) calendar days following
such AGM.

 

    	5

    	 

    

 

7.           Additional
Covenants. The Key Shareholder agrees that he shall not vote in any capacity in favor of any amendment to the Certificate of
Incorporation, Bylaws or any organizational document of the Company that seeks to remove, amend, or in any way alter the voting
agreements of the Parties set forth in this Agreement or any of the other rights of the Investor set forth in this Agreement. The
Investor agrees that the Investor shall not vote in any capacity in favor of any amendment to the Certificate of Incorporation,
Bylaws or any organizational document of the Company that seeks to remove, amend, or in any way alter the voting agreements of
the Parties set forth in this Agreement or any of the other rights of the Key Shareholder set forth in this Agreement.

 

8.           Covenants
of the Company.

 

(a)          The
Company will not, by any voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be performed
hereunder by the Company, but will at all times in good faith assist in the carrying out of all of the provisions of this Agreement
and in the taking of all such actions as may be necessary, appropriate or reasonably requested by the Investor in order to protect
the rights of the Parties hereunder against impairment.

 

(b)          Following
the date of this Agreement, until consummation of all transactions contemplated hereby, the Company shall give to the Investor,
its counsel, financial advisers, auditors and other authorized representatives reasonable access to the offices, properties, books
and records, financial and other data and information as the Investor and its representatives may reasonably request.

 

(c)          The
Company warrants that it has no current intention to issue any new shares of capital stock of the Company to the Key Shareholder
or any third party until the requirements of Sections 3 through 6 of this Agreement have been fully implemented in accordance with
their terms.

 

9.           No
Liability for Election of Recommended Directors. Neither the Investor nor any officer, director, stockholder, partner, employee
or agent of the Investor, makes any representation or warranty as to the fitness or competence of any Designee of the Investor
to serve on the Company’s Board, whether designated under this Agreement or designated at any time in the future under the
terms of this Agreement.

 

10.         Grant
of Proxies. Upon the failure of the Key Shareholder to vote the Key Shareholder Shares in accordance with the terms of this
Agreement, the Key Shareholder hereby grants to the Investor a proxy coupled with an interest in all Key Shareholder Shares owned
by the Key Shareholder, which proxy in each case shall be irrevocable until this Agreement terminates pursuant to its terms, to
vote all the Key Shareholder Shares in the manner provided in Sections 3, 4, 5 and 6 hereof. Upon the failure of the Investor to
vote the Investor’s Investor Shares in accordance with the terms of this Agreement, the Investor hereby grants to the Key
Shareholder a proxy coupled with an interest in all Investor Shares owned by the Investor, which proxy in each case shall be irrevocable
until this Agreement terminates pursuant to its terms, to vote all such Investor Shares in the manner provided in Sections 3, 4
and 6 hereof.

 

11.         Specific
Enforcement. It is agreed and understood that monetary damages would not adequately compensate an injured Party for the breach
of this Agreement by any other Party, that this Agreement shall be specifically enforceable, and that any breach or threatened
breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each
Party waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach.

 

    	6

    	 

    

 

 

12.         Execution
by the Company. The Company, by its execution in the space provided below, agrees that it shall supply, free of charge, a copy
of this Agreement to any holder of a certificate evidencing shares of capital stock of the Company upon written request from such
holder to the Company at its principal office.

 

13.         Captions.
The captions, headings and arrangements used in this Agreement are for convenience only and do not in any way limit or amplify
the terms and provisions hereof.

 

14.         Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given (a) upon personal delivery to the party to be notified, (b) when sent by facsimile if sent during normal business hours of
the recipient, and if not so confirmed, then on the next business day, or (c) one (1) day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the
respective Parties at their address as set forth in the opening paragraph of this Agreement. If notice is given to the Investor,
a copy shall also be sent to Giordano, Halleran & Ciesla, P.C., 125 Half Mile Road, Red Bank, New Jersey 07701, Attention:
Patrick S. Convery, Esq.

 

15.         Term.
This Agreement shall terminate and be of no further force or effect immediately prior to the consummation of Company’s first
offering of its Common Stock pursuant to an effective registration statement under the Securities Act of 1933, as amended; provided,
however, that the Parties acknowledge and agree that the termination of this Agreement as of immediately prior to the issuance
of capital stock of the Company in connection with its first offering of Common Stock pursuant to an effective registration statement
under the Securities Act of 1933, as amended, shall not occur until after the Board of Directors of the Company has already granted
final approval of such first offering of Common Stock and the issuance of shares of Common Stock in connection therewith.

 

16.         Manner
of Voting. The voting of shares pursuant to this Agreement may be effected in person, by proxy, by written consent or in any
other manner permitted by applicable law.

 

17.         Amendments
and Waivers. Any term hereof may be amended and the observance of any term hereof may be waived (either generally or in a particular
instance and either retroactively or prospectively) only with the written consent of (i) the Company (ii) the Key Shareholder,
and (iii) the Investor.

 

18.         Stock
Splits, Stock Dividends, etc. In the event of any issuance of shares of the Company’s voting securities hereafter to
any of the Parties (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization
or the like), such shares shall become subject to this Agreement.

 

19.         Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall
be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Agreement.

 

    	7

    	 

    

 

20.         Successors
and Assigns. The provisions hereof shall inure to the benefit of, and be binding upon, the Parties and their respective successors,
assigns, heirs, executors and administrators and other legal representatives.

 

21.         Aggregation
of Stock. All shares of capital stock of the Company (and warrants and rights to purchase the same) that are held or acquired
by persons or entities that are affiliates of one another or that are under common investment management shall be aggregated together
for the purpose of exercising or determining the availability of any rights under this Agreement.

 

22.         Binding
Effect. In addition to any restriction on transfer that may be imposed by any other agreement by which any Party may be bound,
this Agreement shall be binding upon the Parties, their respective heirs, successors, and Related Party transferees and assigns
that may become stockholders of the Company by virtue of the transfer of any Shares; provided that for any such transfer to be
deemed effective, the transferee shall have executed and delivered an Adoption Agreement substantially in the form attached hereto
as Exhibit A. Upon the execution and delivery of an Adoption Agreement by a transferee reasonably acceptable to the Company,
such transferee shall be deemed to be a party to this Agreement as if such transferee’s signature appeared on the signature
page of this Agreement. By its execution hereof or any Adoption Agreement, each of the Parties appoints the Company as its attorney-in-fact
for the purpose of executing any Adoption Agreement which may be required to be delivered hereunder.

 

23.         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, without regard
to conflicts of law principles thereof. 

 

24.         Entire
Agreement. This Agreement is intended to be the sole agreement of the Parties as it relates to the subject matter hereof and
supersedes all other agreements of the Parties relating to the subject matter hereof.

 

25.         Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

    	8

    	 

    

 

IN WITNESS WHEREOF, the Parties have
caused this Agreement to be executed on and as of the date set forth above.

 

	 	AKERS BIOSCIENCES, INC.,
	 	a New Jersey corporation
	 	 
	 	By: 	 
	 	Name:
	 	Title:
	 	 
	 	By: 	 
	 	Thomas J. Knox
	 	 
	 	CHUBEWORKX GUERNSEY

LIMITED,
	 	a company incorporated in Guernsey
	 	 
	 	By: 	 
	 	Name:
	 	Title:

 

    	 

    	 

    

 

ADOPTION AGREEMENT

 

This Adoption Agreement
(“Adoption Agreement”) is executed by the undersigned (the “Transferee”) pursuant to the terms of that
certain Voting Agreement dated as of June 12, 2013 (the “Agreement”) by and among the Company and certain of its stockholders.
Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Agreement. By the
execution of this Adoption Agreement, the Transferee agrees as follows:

 

Acknowledgment.
Transferee acknowledges that Transferee is acquiring certain shares of the capital stock of the Company (the “Stock”),
subject to the terms and conditions of the Agreement.

 

Agreement.
Transferee (i) agrees that the Stock acquired by Transferee shall be bound by and subject to the terms of the Agreement, and
(ii) hereby adopts the Agreement with the same force and effect as if Transferee were originally a party thereto. 

 

Notice.
Any notice required or permitted by the Agreement shall be given to Transferee at the
address listed beside Transferee’s signature below.

 

EXECUTED AND DATED
this ______ day of _________________, 20__.

 

	 	TRANSFEREE:
	 	 
	 	By:  	 
	 	 	Name and Title
	 	 	 
	 	Address:  	 
	 	Fax:  	 

 

Accepted and Agreed:

 

	AKERS BIOSCIENCES, INC.,	 
	a New Jersey corporation	 
	 	 
	By: 	 	 
	Name:  	 
	Title:	 
	 	 	 

 

    	 

    	 

    

 

EXHIBIT C

 

SUBSEQUENT VOTING AGREEMENT 

 

AGREEMENT

 

THIS AGREEMENT
(this “Agreement”), made as of the 12th day of June, 2013, is by and among RAYMOND AKERS, JR., an individual
residing at 171 Essex Avenue, Sewell, New Jersey 08080 (“Akers”), THOMAS A. NICOLETTE, an individual residing at 7
Spring Hollow Road, Centerport, New York 11721-1122 (“Nicolette”) and AKERS BIOSCIENCES, INC., with an office located
at 201 Grove Road, Thorofare, New Jersey 08086 (the “Company”). Akers, Nicolette and the Company are sometimes collectively
referred to herein as the “Parties” and individually referred to herein as a “Party.”

 

WITNESSETH:

 

WHEREAS, the
Company and Chubeworkx Guernsey Limited (the “Investor”) are parties to a Subscription Agreement of even date herewith
(the “Subscription Agreement”), pursuant to which the Company has agreed to sell and the Investor has agreed to purchase
80,000,000 shares of Common Stock of the Company (the “Investor Shares”);

 

WHEREAS, the
obligations of the Investor in the Subscription Agreement are conditioned upon the execution and delivery of a certain Voting Agreement
by and among Thomas J. Knox (“Knox”), the Investor and the Company (the “Voting Agreement”); and

 

WHEREAS,
in order to induce the Investor to enter into the Subscription Agreement and invest funds in the Company pursuant thereto, the
Parties desire to enter into this Agreement to set forth their agreements and understandings with respect to the initial implementation
of certain of the requirements set forth in the Voting Agreement and to set forth certain other agreements between the Parties.

 

NOW, THEREFORE,
in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties agree as follows:

 

1.           Board Size.
Akers and Nicolette (collectively “Key Shareholders” and individually, a “Key Shareholder”) agree to vote
at a regular or special meeting of stockholders (or by written consent) such shares of Common Stock or Preferred Stock of the Company
that the Key Shareholders own (or as to which the Key Shareholders have voting power) (the “Key Shareholder Shares”)
and take any and all other actions that may be necessary under applicable law to implement the changes to the organizational documents
of the Company set forth in subsections (a) and (b) of Section 3 of the Voting Agreement; provided, however, that
once the changes to the organizational documents of the Company described in subsections (a) and (b) of Section 3 of the Voting
Agreement have been fully implemented, the obligations of the Key Shareholders under this Section 1 shall terminate and be of no
further force or effect. The Company and the Key Shareholders further agree to take any and all other actions that may be necessary
under applicable law in order to implement the requirements of this Section 1, including without limitation calling any special
meetings of the shareholders and/or Board of Directors and/or entering into written consents of the shareholders and/or Board of
Directors as necessary in order to effectively implement the requirements of this Section 1. The Key Shareholders warrant and agree
that the requirements set forth above in this Section 1 shall be implemented as soon as reasonably and practically possible following
the Company’s next annual general shareholders’ meeting which is currently anticipated to be held in July 2013 (“AGM”),
provided, however, that the requirements set forth above in this Section 3 shall be implemented by no later than thirty (30) calendar
days following such AGM.

 

    	 

    	 

    

 

 

2.           Election
of Directors. Each of the Key Shareholders shall vote at a regular or special meeting of shareholders and give written
consent with respect to, such number of shares of Key Shareholder Shares owned by them (or as to which they have voting power)
as may be necessary to elect Gavin Moran as a member of the Board of Directors of the Company and shall take all other actions
that may be necessary under applicable law to elect Gavin Moran as a member of the Board of Directors of the Company,
subject only to approval of Gavin Moran by the AIM Market of the London Stock Exchange plc; provided, however, that once
Gavin Moran has been elected to the Board of Directors of the Company, the obligations of the Key Shareholders under this Section
2 shall terminate and be of no further force or effect. The Company and the Key Shareholders further agree to take any and all
other actions that may be necessary under applicable law in order to implement the requirements of this Section 2, including without
limitation calling any special meetings of the shareholders and/or Board of Directors and/or entering into written consents of
the shareholders and/or Board of Directors as necessary in order to effectively implement the requirements of this Section 2. The
Key Shareholders warrant and agree that the requirements set forth above in this Section 2 shall be implemented within three (3)
business days of the date of this Agreement.

 

3.           Additional
Changes to Organizational Documents. The Key Shareholders agree to vote at a regular or special
meeting of stockholders (or by written consent) such shares of Common Stock or Preferred Stock of the Company that the Key Shareholders
own (or as to which the Key Shareholders have voting power) (the “Key Shareholder Shares”) and take any and all other
actions, at all times up to the time which is immediately prior to the issuance of capital stock of the Company in connection
with its first offering of Common Stock pursuant to an effective registration statement under the Securities Act of 1933, as amended,
that may be necessary under applicable law to implement the changes to the organizational documents of the Company set forth in
Section 6 of the Voting Agreement (a) requiring unanimous approval of the members of the Board of Directors of the Company for
any new issuance by the Company of any new shares of capital stock of the Company or any instruments convertible into shares of
capital stock of the Company (including any issuance of shares of capital stock of the Company in connection with its first
offering of Common Stock of the Company pursuant to an effective registration statement under the Securities Act of 1933, as amended)
and (b) providing that any change or amendment to the organizational documents of the Company providing for the removal of the
requirements in subsection (a) above shall require either (i) the unanimous approval of the members of the Board of Directors or
(ii) approval of the holders of at least a majority of the outstanding shares of capital stock of the Company; provided,
however, that once the changes to the organizational documents of the Company described in subsections (a) and (b) above
have been fully implemented, the obligations of the Key Shareholders under this Section 3 shall terminate and be of no further
force or effect; and further provided that the Parties acknowledge and agree that the termination of the above
requirements as of immediately prior to the issuance of capital stock of the Company in connection with its first offering of Common
Stock pursuant to an effective registration statement under the Securities Act of 1933, as amended, shall not occur until after
the Board of Directors of the Company has already granted final approval of such first offering of Common Stock and the issuance
of shares of Common Stock in connection therewith. The Company and the Key Shareholders further agree
to take any and all other actions that may be necessary under applicable law in order to implement the requirements of this Section
3, including without limitation calling any special meetings of the shareholders and/or Board of Directors and/or entering into
written consents of the shareholders and/or Board of Directors as necessary in order to effectively implement the requirements
of this Section 3. The Key Shareholders warrant and agree that the requirements set forth above in this Section 3 shall be implemented
as soon as reasonably and practically possible following the Company’s AGM, provided, however, that the requirements set
forth above in this Section 3 shall be implemented by no later than thirty (30) calendar days following such AGM.

 

    	2

    	 

    

 

 

4.           Covenants
of the Parties. The Parties will not, by any voluntary action, avoid or seek to avoid the observance or performance of any
of the terms to be performed hereunder by the Parties, but will at all times in good faith assist in the carrying out of all of
the provisions of this Agreement and in the taking of all such actions as may be necessary, appropriate or reasonably requested
by the Investor in order to protect the rights of the Parties hereunder against impairment.

 

5.           Grant of Proxies.
Upon the failure of any Key Shareholder to vote the Key Shareholder Shares in accordance with the terms of this Agreement, the
Key Shareholder failing to vote such Key Shareholder Shares grants to the Company a proxy coupled with an interest in all Key Shareholder
Shares owned by the Key Shareholder, which proxy in each case shall be irrevocable until this Agreement terminates pursuant to
its terms, to vote all the Key Shareholder Shares in the manner provided in Sections 1, 2 and 3 hereof.

 

6.           Specific Enforcement.
It is agreed and understood that monetary damages would not adequately compensate an injured Party for the breach of this Agreement
by any other Party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement
shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each Party waives any claim or
defense that there is an adequate remedy at law for such breach or threatened breach.

 

7.           Captions.
The captions, headings and arrangements used in this Agreement are for convenience only and do not in any way limit or amplify
the terms and provisions hereof.

 

8.           Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given (a) upon personal delivery to the party to be notified, (b) when sent by facsimile if sent during normal business hours of
the recipient, and if not so confirmed, then on the next business day, or (c) one (1) day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the
respective Parties at their address as set forth in the opening paragraph of this Agreement. If notice is given to the Investor,
a copy shall also be sent to Giordano, Halleran & Ciesla, P.C., 125 Half Mile Road, Red Bank, New Jersey 07701, Attention:
Patrick S. Convery, Esq.

 

    	3

    	 

    

 

 

9.           Term.
This Agreement shall terminate and be of no further force or effect immediately prior to the consummation of Company’s first
offering of its Common Stock pursuant to an effective registration statement under the Securities Act of 1933, as amended; provided,
however, that the Parties acknowledge and agree that the termination of this Agreement as of immediately prior to the issuance
of capital stock of the Company in connection with its first offering of Common Stock pursuant to an effective registration statement
under the Securities Act of 1933, as amended, shall not occur until after the Board of Directors of the Company has already granted
final approval of such first offering of Common Stock and the issuance of shares of Common Stock in connection therewith.

 

10.           Manner of
Voting. The voting of shares pursuant to this Agreement may be effected in person, by proxy, by written consent or in any other
manner permitted by applicable law.

 

11.           Amendments
and Waivers. Any term hereof may be amended and the observance of any term hereof may be waived (either generally or in a particular
instance and either retroactively or prospectively) only with the written consent of (i) the Key Shareholder, (ii) the Company
and (iii) the Investor.

 

12.           Stock Splits,
Stock Dividends, etc. In the event of any issuance of shares of the Company’s voting securities hereafter to any of the
Parties (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization or
the like), such shares shall become subject to this Agreement.

 

13.           Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall
be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Agreement.

 

14.           Successors
and Assigns. The provisions hereof shall inure to the benefit of, and be binding upon, the Parties and their respective successors,
assigns, heirs, executors and administrators and other legal representatives.

 

15.           Binding Effect.
In addition to any restriction on transfer that may be imposed by any other agreement by which any Party may be bound, this Agreement
shall be binding upon the Parties, their respective heirs, successors, transferees and assigns and to such additional individuals
or entities that may become stockholders of the Company by virtue of the transfer of any Key Shareholder Shares; provided that
for any such transfer to be deemed effective, the transferee shall have executed and delivered an Adoption Agreement substantially
in the form attached hereto as Exhibit A. Upon the execution and delivery of an Adoption Agreement by a transferee reasonably
acceptable to the Company, such transferee shall be deemed to be a party to this Agreement as if such transferee’s signature
appeared on the signature page of this Agreement. By its execution hereof or any Adoption Agreement, each of the Parties appoints
the Company as its attorney-in-fact for the purpose of executing any Adoption Agreement which may be required to be delivered hereunder.

 

    	4

    	 

    

 

 

16.           Third Party
Beneficiary. The Parties understand and agree that the Investor shall be an express third party beneficiary of this Agreement,
and shall have the right to enforce all obligations of Akers and Nicolette under this Agreement and exercise all rights of the
Company under this Agreement.

 

17.           Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, without regard
to conflicts of law principles thereof. 

 

18.           Entire Agreement.
This Agreement is intended to be the sole agreement of the Parties as it relates to the subject matter hereof and supersedes all
other agreements of the Parties relating to the subject matter hereof.

 

19.           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

    	5

    	 

    

 

IN WITNESS WHEREOF, the Parties have
caused this Agreement to be executed on and as of the date set forth above.

 

	 	By:	/s/ Raymond Akers, Jr.
	 		Raymond Akers, Jr.
	 	 	 
	 	By:	/s/ Thomas A Nicolette
	 		Thomas A. Nicolette
	 	 
	 	AKERS BIOSCIENCES, INC.,
	 	a New Jersey corporation
	 	 
	 	By:	/s/ Thomas A. Nicolette
	 	Name:	Thomas A. Nicolette
	 	Title:	CEO

 

    	 

    	 

    

 

EXHIBIT D

 

ANNOUNCEMENT

 

RNS Number : 9280G

Akers Biosciences, Inc.

13 June 2013

 

Akers Biosciences, Inc.

("ABI" or the "Company")

 

Extension of Licence and Supply Agreement

 

$1.6 million share subscription

 

Akers Biosciences, Inc (AIM: AKR), a leading designer and manufacturer
of rapid diagnostic screening and testing products, is pleased to announce that it has extended its licence and supply agreement
dated 19 June 2012 (the "Licence and Supply Agreement") with Chubeworkx Guernsey Limited ("Chubeworkx") to
cover the United States, Canada and Mexico.

In 2012, ABI announced that it had negotiated a multi-year breathalyser
agreement with Chubeworkx pursuant to which the Company granted Chubeworkx an exclusive licence to market and distribute private-labelled
versions of ABI's disposable breath alcohol detectors, to be supplied by the Company, outside the United States of America, Canada
and Mexico. Chubeworkx and its indirect subsidiary, en10 Global Limited ("en10") have since initiated an extensive marketing
programme in France to support the launch of the NF-Marked version of CHUBE-branded breathalysers. As announced on 10 April 2013,
Chubeworkx has already ordered 4.9 million breathalysers and, with a marketing exercise currently underway, the Company believes
it will receive future orders. Whilst the majority of this marketing has been aimed at the French market, with all drivers on French
roads, including foreign passport holders and drivers of foreign vehicles legally required to carry at least one un-used NF Approved
disposable breathalyser kit, Chubeworkx, through en10, also has active sales and marketing initiatives in the UK, South Africa
and Australia under the "BE CHUBE" alcohol awareness programme. The extension of the Licence and Supply Agreement will
allow the marketing and distribution of the "BE CHUBE" programme to be expanded worldwide using the ABI breathalyser.

In addition, Chubeworkx has agreed to subscribe for 80,000,000
new common shares (the "Subscription Shares") in the Company for a total price of $1,600,000 (the "Subscription").
Chubeworkx' desire to acquire an equity stake in ABI furthers its commitment to the Company's commercial success within and beyond
the disposable breathalyser business segment. Chubeworkx has well-established business relationships in Africa and Asia where there
is potentially strong demand for ABI's infectious disease rapid assays.

Under the terms of the Subscription Agreement, which is conditional
upon admission of the Subscription Shares to trading on AIM ("Admission"), Chubeworkx can, at any one time, nominate
one individual to the Board of Directors of ABI, subject to the AIM Rules for Companies. The Subscription Shares will represent
28.7% of the Company's common stock immediately following Admission.

 

    	 

    	 

    

 

The Company also announces that it intends to change its by-laws
to, inter alia, ensure that, at all times, the unanimous approval of the Board of Directors of the Company shall be required for
any issuance by the Company of any new shares of capital stock of the Company or any instruments convertible into shares of capital
stock of the Company. This change in the Company's by-laws is expected to be tabled as a resolution at the next general meeting
of the Company. Chubeworkx, Thomas Knox, Ray Akers and Thomas A. Nicolette, who in aggregate will hold, post Admission, 53.2% of
the voting rights in the Company, have each undertaken to vote in favour of the proposed changes to the Company's by-laws.

In addition to the Subscription, ABI and Chubeworkx have entered
into a share purchase agreement pursuant to which ABI will sell its 20% interest in (en)10 Guernsey Limited to Chubeworkx for $100,000.

Application has been made for Admission, which is expected to
occur at 8.00 am on 14 June 2013. On Admission, the Subscription Shares will rank pari passu in all respects with the Company's
existing common shares in issue. Immediately following Admission, the Company will have 278,815,666 common shares in issue and
10,000,000 preferred shares ("Preferred Shares") in issue. The Preferred Shares each have five votes per share and the
Company has no ordinary shares held in treasury. The total number of voting rights is therefore 328,815,666. This figure may be
used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency
Rules.

Immediately following Admission, Chubeworkx will hold 28.7%
of the Company's common stock and 24.3% of the voting rights in the Company.

 

Thomas A. Nicolette, President and Chief Executive Officer
of ABI commented, "Our partnership with Chubeworkx is delivering measurable results to the Company's bottom line. Their
extensive "BE CHUBE" promotional programme is helping to transform the way people from among the most at-risk populations
view alcohol consumption and emphasise the importance of proactive testing with CHUBE breath alcohol detectors. We believe that
our decision to expand CHUBE's reach into North America will facilitate a global presence and likely demand for ABI-manufactured
private-label disposable breathalysers."

 

Gavin Moran, Chairman of Chubeworkx also noted, "Our
partnership with ABI has provided us with a keen understanding of the capabilities of, and exciting potential for, ABI's proprietary
platform technologies. This strategic view has led us to a significant investment in the Company and a direct commitment to its
commercial success. We are excited about the immediate prospects for the global CHUBE change programme and, looking to the future,
to the potential opportunities from leveraging our presence in Africa and Asia to distribute ABI's diagnostic products into new
markets."

 

	
         

        Enquiries: Thomas A. Nicolette, President and CEO
	
         

        Tel. +1 856 848 8698

         

	Antony Legge / James Thomas Daniel Stewart (Nomad and Broker) 	Tel. +44 (0)20 7776 6550SUBSCRIPTION AGREEMENT

 

THIS
SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of September 14, 2012, is by and between Akers
Biosciences, Inc., a corporation incorporated under the laws of the State of New Jersey and located at 201 Grove Road, Thorofare,
NJ 08086 (the “Company”), and THOMAS J. KNOX,
an individual residing at 50 South 16th Street, Suit 4604, Philadelphia, PA, 19102 (the “Subscriber”).

 

WHEREAS, the
Company and Subscriber are executing and delivering this Agreement in reliance upon an exemption from securities registration afforded
by the provisions of Section 4(2) and/or Regulation D (“Regulation D”) promulgated by the United States Securities
and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities
Act”);

 

WHEREAS, the
parties hereto desire that, upon the terms and subject to the conditions contained herein, on the date hereof (the “Initial
Funding Date”), the Company shall issue to the Subscriber (1) fourteen million (14,000,000) shares of common stock of
the Company, par value $0.001 per share (the “Initial Common Stock”), and (2) ten million (10,000,000) shares
of series A preferred stock of the Company, par value $0.001 per share (the “Preferred Stock”); and

 

WHEREAS, the
parties hereto desire that, upon the terms and subject to the conditions contained herein, on or before thirty (30) days following
the Initial Funding Date (such date, the “Secondary Funding Date”), the Company shall issue to the Subscriber
sixteen million (16,000,000) shares of common stock of the Company, par value $0.001 per share (the “Secondary Common
Stock” and together with the Initial Common Stock, collectively, the “Common Stock”; the Common Stock,
the Preferred Stock and any common stock of the Company which may be issuable upon the conversion of the Preferred Stock, collectively,
the “Securities”).

 

NOW, THEREFORE,
in consideration of the mutual covenants and other agreements contained in this Agreement, the Company and Subscriber hereby agree
as follows:

 

1.          Purchase
and Sale.

 

(a)          Initial
Tranche. Upon the terms and subject to the conditions set forth in this Agreement, on the Initial Funding Date, (1) the Subscriber
shall deliver to the Company (i) Two Hundred Ten Thousand United States Dollars (US$210,000) and (ii) a promissory note in the
principal amount of Two Hundred Twenty Five Thousand United States Dollars ($225,000) in favor of the Company, in the form of Exhibit
A attached hereto (the “Note”) (together, items (i) and (ii), the “Initial Consideration”);
and (2) upon receipt by the Company of the Initial Consideration, the Company shall deliver to the Subscriber (i) the Initial Common
Stock and (ii) the Preferred Stock.

 

(b)          Second
Tranche. Upon the terms and subject to the conditions set forth in this Agreement, on the Secondary Funding Date, (1) the Subscriber
shall deliver to the Company (i) Two Hundred Forty Thousand United States Dollars (US$240,000) (the “Secondary Consideration”);
and (2) upon receipt by the Company of the Secondary Consideration, the Company shall deliver to the Subscriber the Secondary Common
Stock.

 

    	 

    	 

    

  

2.            Conditions
Precedent. As a condition precedent to the obligations of the parties contained herein, (1) the Subscriber shall execute and
deliver to the Company the investor questionnaire, in the form of Exhibit B attached hereto, (2) the Company shall file
with the Secretary of State of the State of New Jersey a certificate of designation governing the rights of the Preferred Shares,
in the form of Exhibit C attached hereto, and (3) the parties shall each deliver any and all evidence of corporate authorization
or other appropriate documentation as may be requested by the other party in its reasonable discretion, including, in the case
of the Company, with respect to the closing contemplated in Section 1(b) above, any officer’s or secretary’s certificate
and opinion of counsel to the Company covering the issuance of the Securities, the outstanding Securities of the Company, and the
transactions contemplated hereby requested by Subscriber.

 

3.            Subscriber
Representations and Warranties. Subscriber hereby represents and warrants to and agrees with the Company that:

 

(a)          Authorization
and Power. Subscriber has the the legal capacity, requisite power and authority to enter into and perform this Agreement
and the Note. The execution, delivery and performance of this Agreement and the Note by the Subscriber, and the consummation by
the Subscriber of the transactions contemplated hereby, have been duly authorized by all necessary action, and no further consent
or authorization of Subscriber is required. This Agreement and the Note have been duly authorized, executed and delivered by the
Subscriber and constitute, or shall constitute, when executed and delivered, a valid and binding obligation of the Subscriber,
enforceable against Subscriber in accordance with the terms hereof.

 

(b)          Information
on Subscriber. Subscriber is an “accredited investor,” as such term is defined in Regulation D promulgated by the
Commission under the 1933 Act, is experienced in investments and business matters, has made investments of a speculative nature
and has purchased securities of United States publicly-owned companies in private placements in the past and, with its representatives,
has such knowledge and experience in financial, tax and other business matters as to enable the Subscriber to utilize the information
made available by the Company to evaluate the merits and risks of, and to make an informed investment decision with respect to,
the proposed purchase, which the Subscriber hereby agrees represents a speculative investment. The Subscriber has the authority
and is duly and legally qualified to purchase and own the Securities. The Subscriber is able to bear the risk of such investment
for an indefinite period and to afford a complete loss thereof.

 

(c)          Purchase
of Securities. The Subscriber will purchase the Securities
for its own account for investment and not with a view toward, or for resale in connection with, the public sale or any distribution
thereof in violation of the Securities Act or any applicable state securities law, and has no direct or indirect arrangement or
understandings with any other person or entity to distribute or regarding the distribution of such Securities;

 

    	 

    	 

    

  

(d)          Compliance
with Securities Act. The Subscriber understands and agrees that the Securities have not been registered under the 1933 Act
or any applicable state securities laws by reason of their issuance in a transaction that does not require registration under the
1933 Act (based in part on the accuracy of the representations and warranties of Subscriber contained herein), and that such Securities
must be held indefinitely unless a subsequent disposition is registered under the 1933 Act or any applicable state securities laws
or is exempt from such registration.

 

(e)          Legend.
The Securities shall bear the following or similar legend:

 

“THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, NOR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR
ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER AND REASONABLY APPROVED BY THE COMPANY), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

(f)          Communication
of Offer. Subscriber has a preexisting personal or business relationship with the Company or one or more of its directors,
officers, advisors or control persons, and the offer to issue the Securities was directly communicated
to Subscriber by the Company. At no time was Subscriber presented with or solicited by any leaflet, newspaper or magazine article,
radio or television advertisement, or any other form of general advertising or solicited or invited to attend a promotional meeting
otherwise than in connection and concurrently with such communicated offer;

 

(g)          No
Governmental Endorsement. Subscriber understands that no United States federal or state agency or any other governmental or
state agency has passed on or made recommendations or endorsement of the Securities, or the suitability
of the investment in the Securities, nor have such authorities passed upon or endorsed the merits
of the offering of the Securities;

 

(h)          Receipt
of Information. Subscriber believes it has received all the information it considers necessary or appropriate for deciding
whether to invest in the Company and to accept the Securities. Subscriber further represents that through its representatives it
has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering
of the Securities and the business, properties and financial condition of the Company and to obtain additional information (to
the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify
the accuracy of any information furnished to it or to which it had access; and

 

    	 

    	 

    

  

(i)          No
Market Manipulation. Subscriber has not taken, and will not take, directly or indirectly, any action designed to, or that might
reasonably be expected to, cause or result in stabilization or manipulation of the price of the Securities, to facilitate the sale
or resale of the Securities or affect the price at which the Securities may be issued or resold.

 

4.            Company
Representations and Warranties. The Company represents and warrants to, and agrees with, Subscriber that:

 

(a)          Due
Incorporation. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the
jurisdiction of its incorporation, it has the requisite corporate power and authority to own and operate its properties and assets
and to carry on its business as presently conducted (including being qualified and in good standing ine ach jurisdiction in which
it operates).

 

(b)          Authority;
Enforceability. This Agreement has been duly authorized, executed and delivered by the Company and is the valid and binding
agreement of the Company, enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency,
moratorium or other similar laws affecting the enforcement of creditors’ rights generally, or principles of equity.
The Company has full corporate power and authority necessary to enter into and deliver this Agreement, the agreements contemplated
hereby, issue the Securitires, file the certificate of designation for Series A Preferred Stock and to carry out the provisions
of the same and to perform its obligations thereunder;

 

(c)          Capitalization
and Additional Issuances; Indebtedness. The Company has authorized 200 million shares of common stock and 15 million shares
of series A preferred stock. As of the date hereof, there are 168,715,666 shares of common stock issued and outstanding and zero
shares of preferred stock issued and outstanding. All of the 168,715,666 outstanding shares of the common stock are, and the Securities
to be issued pursuant hereto will be, duly authorized and validly issued, fully paid and non-assessable and are not (and will not
be) subject to preemptive or similar rights or any encumbrance. All such shares were issued in compliance with all applicable laws
including state, federal and applicable international securities laws and the rules of the Londson Stock Exchange’s AIM.
The rights, preferences and privileges of the shares of the Company are as stated in the certificate of incorporation. None of
the Company’s authorized and unissed commeon stock and preferred stock has been reserved for issuance, directly or indirectly,
pursuant to any incentive plan or other plan of the Company, warrants or any other security.

 

(d)          Consents.
No consent, approval, authorization or order of any court, governmental agency or body having jurisdiction
over the Company or of any other person is required for the execution by the Company of this Agreement and compliance and performance
by the Company of its obligations hereunder and thereunder, including, without limitation, the issuance of the Securities;

 

    	 

    	 

    

 

(e)          No
Violation or Conflict. Neither the issuance of the Securities nor the performance of the Company’s obligations under
this Agreement will:

 

(i)          violate,
conflict with, result in a breach of, or constitute a default (or an event which with the giving of notice or the lapse of time
or both would be reasonably likely to constitute a default) under (a) the charter or bylaws of the Company or (b) any decree, judgment,
order or determination applicable to the Company of any court, governmental agency or body having jurisdiction over the Company
or over the properties or assets of the Company; or

 

(ii)         result
in the creation or imposition of any liens, pledges, mortgages, security interests, charges, restrictions, adverse claims
or other encumbrances of any kind or nature whatsoever upon the Securities except in favor of Subscriber
as described herein;

 

(f)          The
Securities. Upon issuance, the Securities:

 

(i)          shall
be free and clear of any liens, pledges, mortgages, security interests, charges, restrictions, adverse claims or other encumbrances
of any kind or nature whatsoever, subject only to restrictions upon transfer under the Securities Act
and any applicable state securities laws;

 

(ii)         shall
have been duly and validly issued, fully paid and non-assessable; and

 

(iii)        will
not subject the holders thereof to personal liability by reason of being such holders;

 

(iv)         the
rights, preferences and privileges of the ahres of the Company are as stated in the certificate of incorporation and certificate
of designation delivered to Subscriber on the date hereof as attachments to a Officer’s Certificate and such rights, privileges
and preferences are enforceable by the Subscriber, including, without limitation, voting rights; and

(v)          the
common stock issued to Subscriber hereby may be freely traded on the London Stock Exchange’s AIM.

 

(g)          No
General Solicitation. Neither the Company, nor any of its affiliates, nor any person or entity acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities
Act) in connection with the offer or sale of the Securities; and

 

    	 

    	 

    

 

(h)          AIM Compliance.
The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company with the
NOMAD and the London Stock Exchange’s AIM under all Laws (as defined below) applicable to the Company, for the three years
preceding the date hereof (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein,
being collectively referred to herein as the “AIM Reports”), on a timely basis or has received a valid extension of
such time of filing and has filed any such AIM Reports prior to the expiration of any such extension. As of their respective dates,
the AIM Reports complied in all material respects with the requirements of all applicable Laws, and none of the AIM Reports, when
filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial
statements of the Company provided to the Subscriber or included in the AIM Reports (the “Financial Statements”) comply
in all material respects with applicable accounting requirements and the rules and regulations of the AIM with respect thereto
as in effect at the time of provision or filing. Such financial statements have been prepared in accordance with IFRS applied on
a consistent basis during the periods involved, except as may be otherwise specified in such financial statements or the notes
thereto and except that unaudited financial statements may not contain all footnotes required by IFRS, and fairly present in all
material respects the financial position of the Company and its consolidated subsidiaries, if any, as of and for the dates thereof
and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal,
immaterial, year-end audit adjustments.

 

(h)          Compliance.
(i) The Company has complied with each, and is not in violation of, any applicable law, statute, regulation, rule, ordinance or
order (“Laws”) to which the Company or its business, operations, employees, assets or properties are or have been subject,
the non-compliance with which would have a material adverse effect. To the Company’s knowledge, no event has occurred or
circumstances exist that (with or without the passage of time or the giving of notice) may result in a violation of, conflict with
or failure on the part of the Company to comply with, any Law. The Company has not received written notice regarding any violation
of, conflict with, or failure to comply with, any Law. The execution, delivery, and performance of this Agreement and any agreements
related thereto by the Company, and the sale, issuance and delivery of the Securities pursuant hereto and of the issuance and delivery
of the conversion shares pursuant to the Certificate, will not, with or without the passage of time or giving of notice, result
in any such violation, or be in conflict with or constitute a default under any Law.

 

(ii) The Company owns,
holds, possesses or lawfully uses in the operation of its business all franchises, licenses, permits and registrations (“Authorizations”)
that are required or otherwise necessary for it to conduct its business as currently conducted or for the ownership and use of
the assets owned or used by the Company in the conduct of its business, free and clear of all liens or other encumbrences of any
nature, except where the failure to possess such Authorizations would not have a material adverse effect. To the Company’s
knowledge, no event has occurred or circumstances exist that (with or without the passage of time or the giving of notice) may
result in a violation of, conflict with, failure on the part of the Company to comply with the terms of, or the revocation, withdrawal,
termination, cancellation, suspension or modification of any Authorization. The Company has not received written notice regarding
any violation of, conflict with, failure to comply with the terms of, or any revocation, withdrawal, termination, cancellation,
suspension or modification of, any Authorization. The Company is not in material default and has not received written notice of
any claim of such material default, with respect to any Authorization.

 

    	 

    	 

    

  

(i)          Litigation.
Except as publically disclosed in the AIM Reports, there is no litigation, arbitration, mediation or investigation pending or,
to the knowledge of the Company, threatened against the Company or affecting any of its properties or assets nor, to the Company’s
knowledge, (a) has there occurred any event nor (b) does there exist any condition on the basis of which any such litigation, arbitration,
mediation or investigation might be properly instituted or commenced. The Company is not a party or subject to the provisions of
any order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no action or suit
by the Company pending or, to the Company’s knowledge, threatened against others. Authorization.

 

(j)          Liabilities.
The Company does not have and is not subject to any liability or obligation of any nature, except: (a) as disclosed on, or reflected
or reserved against in, the Financial Statements, (b) as are not required under GAAP to be disclosed on, or reflected or reserved
against in, financial statements, or (c) obligations to perform under commitments incurred in the ordinary course of business since
June 30, 2012.

 

(k)          Offering
Valid. Assuming the accuracy of the representations and warranties of the Subscriber contained in Section 3(b), the offer,
sale, issuance and delivery of the Securities will be exempt from the registration requirements of the Securities Act, and
will have been registered or qualified (or are exempt from registration and qualification) under the registration, permit or qualification
requirements of all applicable securities Laws and the rules of any exchanges to which the Company is
subject.

 

(l)          Full
Disclosure. No representation or warranty or other statement made by the Company in this Agreement in connection with the contemplated
transactions contains any untrue statement of material fact or omits to state a material fact necessary to make the respresentations
and warranties set forth herein, in light of the circumstances in which they were made, not misleading.

 

5.
Preemptive Rights. If the Company hereafter proposes to, directly or indirectly, sell any of its equity securities
or any securities containing options or rights to acquire any of its equity securities or any securities convertible into or exchangeable
for equity securities (a) the number of shares of the Common Stock (on an as-converted basis) or other securities proposed to
be so issued and sold multiplied by (b) a fraction, the numerator of which is the number of shares of the Common Stock (on an
as-converted basis) then owned by Subscriber prior to such issuance and the denominator of which is the total number of shares
of the Common Stock then issued and outstanding, for the same price and upon the same terms and conditions as the securities are
being offered in such transaction (the “Preemptive Right”). The Company shall make such offer to Subscriber
by providing a notice (the “Preemptive Notice”) which shall set forth the price, timing, and terms and conditions
of the proposed issuance of such new securities. Subscriber may exercise its right to purchase the securities by delivering to
the Company within 30 days of receipt of the Preemptive Notice, irrevocable notice of acceptance of the proposed sale on the terms
specified in the Preemptive Notice, and payment for such securities to be purchased. The Preemptive Right shall be deemed waived
by Subscriber if it does not deliver an irrevocable notice of acceptance of the proposed sale, and adequate payment for the securities,
within 10 days of the Preemptive Notice having been given. If Subscriber does not elect to exercise its Preemptive Right, then,
subject to compliance with this Agreement, the Company shall be entitled to sell part or all of those securities to such person
or financial institution as it may determine. Notwithstanding any provision in this Section to the contrary, Subscriber shall
not have any preemptive right to purchase (a) equity securities issued in connection with employee
stock option or compensation plans approved by the board of directors of the Company pursuant to which shares are issued to officers,
directors or employees of the Company for compensatory purposes or to unaffiliated consultants, suppliers and contractors to the
Company in exchange for bona fide services rendered or (b) equity securities issued as consideration to an unaffiliated third
party in connection with any merger, consolidation, or acquisition to which the Company is a party.

 

    	 

    	 

    

  

6.          Subscriber’s
Obligation to Repay the Note Prior to the Maturity Date. The Company shall have the right, exercisable at any time following
either (a) the Company having received an NF Mark in France for the BreathScan product line or, (b) prior to January 1,
2022, upon conversion by the Subscriber of the Preferred Shares into common shares of the Company pursuant to the terms and conditions
governing such conversion as contained in the applicable certificate of designation to cause the Subscriber to pay the entire outstanding
amount owed by the Subscriber under the Note. Additionally, if the Preferred Shares have not been converted by Subcriber into shares
of common stock pursuant to the certificate of designation by January 1, 2022 and the Company does not produce at least Five Million
United States Dollars (US$5,000,000) in adjusted EBITDA (as reasonably calculated by the Company in good faith at such time and
in accordance with consistently applied customary practices) for the 12 month fiscal year then the principal amount owed under
the Note (not including interest, fees or other amounts which may be owed thereunder) shall be reduced to One Hundred Twelve Thousand
Five Hundred United States Dollars (US$112,500) notwithstanding anything contained in the Note, the certificate of designation
or any other agreement to the contrary. The rights contained subsections (a) and (b) in this Section shall be exercisable by the
Company by delivery of written notice (the “Call Notice”) to the Subscriber specifying the date on which such
repayment shall occur, which date shall not be more than five (5) days after the date of the Call Notice (the “Call Closing
Date”). On the Call Closing Date, the Subscriber shall repay any and all amounts owed pursuant to the Note (as may be
supplemented hereby) by wire transfer to an account designated by the Company.

 

7.          Covenant
of the Company Regarding the Board of Directors. The Company agrees that, prior to December 31, 2012, the Company shall take
any and all corporate actions necessary or advisable to amend its organizational documents to require that exactly three (3) directors
comprise the Company’s Board of Directors. The Company’s organizational documents shall specify that each director
has equal rights to each other director. The Company further agrees that, provided that the Subscriber owns more than 15% of the
Company’s common stock or 10,000,000 shares of the Company’s Preferred Stock at any time, the Subscriber shall be permitted
to appoint one (1) director to the Company’s Board of Directors, which such appointment shall be made in the Subscriber’s
reasonable discretion and upon receiving the consent of the Company (which such consent shall not be unreasonably withheld), and
which such director may not be substituted or removed without the Subscriber’s written consent.

 

    	 

    	 

    

 

8.           Broker’s
Commission/Finder’s Fee. Each party hereto represents to the other that there are no parties entitled to receive
fees, commissions, finder’s fees, due diligence fees or similar payments in connection with the consummation of the transactions
contemplated hereby. Each party hereto agrees to indemnify the other against and hold the other harmless from any and all liabilities
to any persons claiming brokerage commissions or similar fees on account of services purported to have been rendered on behalf
of the indemnifying party in connection with this Agreement or the transactions contemplated hereby and arising out of the indemnifying
party’s actions.

 

9.           Covenants
Regarding Indemnification. Each party hereto agrees to indemnify,
hold harmless, reimburse and defend the other party and the other party’s officers, directors, agents, counsel, affiliates,
members, managers, control persons, and principal shareholders, as applicable, against any claim, cost, expense, liability, obligation,
loss or damage (including reasonable legal fees) of any nature, incurred by or imposed upon the indemnified party or any such person
which results, arises out of or is based upon (i) any breach of any representation or warranty by the indemnifying party in this
Agreement or (ii) any breach or default in performance by the indemnifying party of any covenant or undertaking to be performed
by the indemnifying party.

 

10.          Miscellaneous.

 

(a)          Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery or facsimile, addressed as set forth in the preamble paragraph hereto or to such other address as such party shall
have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall
be deemed effective (a) upon hand delivery at the address designated in the preamble paragraph hereto (if delivered on a business
day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered
other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day
following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such
mailing, whichever shall first occur.

 

(b)          Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof
and may be amended only by a writing executed by both parties hereto. Neither the Company nor Subscriber has relied on any representations
not contained or referred to in this Agreement and the documents delivered herewith.

 

(c)          Counterparts/Execution.
This Agreement may be executed in any number of counterparts and by the different signatories hereto on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument.
This Agreement may be executed by facsimile transmission, PDF, electronic signature or other similar electronic means with the
same force and effect as if such signature page were an original thereof.

 

    	 

    	 

    

 

(d)          Law
Governing this Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State
of New Jersey without regard to principles of conflicts of laws. Any action brought by either party hereto against the other concerning
the transactions contemplated by this Agreement shall be brought only in the state courts of the State of New Jersey or in the
federal courts located in the State of New Jersey. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction
and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon
forum non conveniens. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A
JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY
TRANSACTION CONTEMPLATED HEREBY. 

 

(e)          Severability.
In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid
or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party
hereto hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Agreement by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence
of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any other manner permitted by law.

 

(f)          Counsel;
Ambiguities. Each party and its counsel have participated fully in the review and revision of this Agreement and the Note.
The parties understand and agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting
party shall not apply in interpreting this Agreement or the other Transaction Documents. The language in this Agreement and the
other Transaction Documents shall be interpreted as to its fair meaning and not strictly for or against any party.

 

(g)          Captions.
The captions of the various sections and paragraphs of this Agreement have been inserted only for the purposes of convenience;
such captions are not a part of this Agreement and shall not be deemed in any manner to modify, explain, enlarge or restrict any
of the provisions of this Agreement.

 

[signature page follows]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the parties has
caused this Agreement to be executed on and as of the date set forth above.

 

	 	AKERS BIOSCIENCES, INC.
	 	 	 
	 	By:	/s/ Raymond F. Akers, Jr.
	 	Name:	Raymond F. Akers, Jr.
	 	Title:	Executive Chairman

  

	SUBSCRIBER:
	 
	Name of Subscriber: 
	 
	thomas j. knox
	 
	Address: 
	 
	50 South 16th St. Suite
	 
	4604 Philadelphia PA 19102

 

	Fax No.: 	 	 
	 	 	 
	Taxpayer ID# (if applicable): ###-##-####	 
	 	 	 
	/s/ Thomas J. Knox	 
	(Signature)	 	 
	 	 	 
	By: 	 	 
	 	 	 
	Dated:
    ____________September 14______, 2012	 

 

[Signature
Page to Subscription Agreement]

 

    	 

    	 

    

 

EXHIBIT A

  

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS
OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF SUCH ACT AND SUCH LAWS.

 

PROMISSORY NOTE

 

	September 14, 2012	 	$225,000.00
	Philadelphia, PA	 	 

 

FOR VALUE RECEIVED, Thomas J. Knox,
an individual residing at 50 South 16th Street, Suite 2710 Philadelphia, PA 19102 (the “Borrower”),
hereby promises to pay to the order of Akers Biosciences, Inc., a corporation incorporated under the laws of the State of New Jersey
and located at 201 Grove Road, Thorofare, NJ 08086, and its successors or assigns (the “Holder”), the principal
amount of Two Hundred Twenty Five Thousand United States Dollars (US$225,000.00) on or prior to the fifteen (15) year anniversary
of the date hereof (the “Maturity Date”), and to pay interest on the unpaid principal balance hereof at the
rate of three percent (3%) per annum (the “Applicable Rate”) commencing as of the date hereof (the “Closing
Date”), in accordance with the terms hereof. This Promissory Note (this note, and all modifications, extensions, future
advances, supplements, and renewals thereof, and any substitutions therefor, hereinafter referred to as the “Note”)
shall be payable in accordance with the terms set forth below. This Note is the “Note” referenced in that certain Subscription
Agreement executed on the date hereof by and between the Borrower and the Holder (the “Subscription Agreement”).
This Note is subject to the terms and conditions contained in the Subscription Agreement including without limitation, paragraph
6 therein.

 

1.           Payments
of Principal and Interest.

 

(a)          Payment
of Principal. The principal amount of this Note shall be paid to the Holder on or prior to the Maturity Date.

 

(b)          Payment
of Interest. Interest on the unpaid principal balance of this Note shall accrue at the Applicable Rate commencing on the Closing
Date. Accrued and unpaid interest under this Note shall be paid in full on the Maturity Date. Any accrued but unpaid interest shall,
at the option of the Holder, be included, from time to time, in the Conversion Amount (as defined herein).

 

(c)          Payment
of Default Interest. Any amount of principal or interest on this Note which is not paid when due shall bear interest from the
date due until such past due amount is paid at a rate of interest equal to the Applicable Rate plus three percent (3%) per
annum (the “Default Rate”).

 

    	1

    	 

    

 

(d)          General
Payment Provisions. All payments of principal and interest on this Note shall be made in lawful money of the United States
of America by certified bank check or wire transfer to such account as the Holder may designate by written notice to the Borrower
in accordance with the provisions of this Note. Whenever any amount expressed to be due by the terms of this Note is due on any
day which is not a Business Day, the same shall instead be due on the next succeeding Business Day. For purposes of this Note,
“Business Day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the State of
New York are authorized or required by law or executive order to remain closed.

 

(e)          Prepayment.
At any time prior to the Maturity Date, the Borrower may pre-pay this Note in full or in part without penalty upon receiving the
written consent of the Holder. Upon prepayment of this Note in full, the Holder shall have no further rights under this Note (except
for such rights that may specifically survive the payment of the Note).

 

2.           Defaults
and Remedies.

 

(a)          Events
of Default. The occurrence of any of the following events shall constitute an “Event of Default” hereunder:
(i) the Borrower shall fail to pay any installment of interest, principal or other sums due under this Note within ten (10) business
days of when any such payment shall be due and payable; (ii) the Borrower makes an assignment for the benefit of creditors in excess
of $10 million; (iii) any order or decree is rendered by a court which appoints or requires the appointment of a receiver, liquidator
or trustee for the Borrower, and the order or decree is not vacated within sixty (60) days from the date of entry thereof; (iv)
any order or decree is rendered by a court adjudicating the Borrower insolvent, and the order or decree is not vacated within sixty
(60) days from the date of entry thereof; (v) the Borrower files a petition in bankruptcy under the provisions of any bankruptcy
law or any insolvency act; (vi) the Borrower admits, in writing, its inability to pay its debts as they become due (provided, however,
that receipt by the Borrower of an audit letter from its accountants questioning the viability of the Borrower as a going concern
shall not, in and of itself, be construed as an admission by the Borrower of its inability to pay its debts as they become due);
(vii) a proceeding or petition in bankruptcy is filed against the Borrower and such proceeding or petition is not dismissed within
ninety (90) days from the date it is filed; (viii) the Borrower files a petition or answer seeking reorganization or arrangement
under the bankruptcy laws or any law or statute of the United States or any other foreign country or state; (ix), the issuance
of a warrant of attachment or for distrait, or of a notice of tax lien against the Borrower or an attachment or seizure of, or
levy upon any property of the Borrower in excess of $10 million, or (x) the Borrower shall fail to perform, comply with or abide
by any of the stipulations, agreements, conditions and/or covenants contained in this Note, the Subscription Agreement, or any
other document by and between the Holder and the Borrower on the part of the Borrower to be performed complied with or abided by,
and such failure is not cured within thirty (30) days after written notice of such failure is delivered by Holder to the Borrower.

 

    	2

    	 

    

 

(b)          Remedies.
Upon the occurrence of one or more Events of Default, the Holder, at its option and without further notice, demand or presentment
for payment to the Borrower or others, may declare the then outstanding principal balance of this Note, together with all other
sums due under the Note, immediately due and payable, together with all accrued and unpaid interest thereon and thereafter all
such sums shall bear interest at the Default Rate, together with all reasonable attorneys’ fees, paralegals’ fees and
costs and expenses incurred by the Holder in collecting or enforcing payment thereof (whether such reasonable fees, costs or expenses
are incurred in negotiations, all trial and appellate levels, administrative proceedings, bankruptcy proceedings or otherwise),
and all other sums due by the Borrower hereunder, all without any relief whatsoever from any valuation or appraisement laws and
payment thereof may be enforced and recovered in whole or in part at any time by one or more of the remedies provided to the Holder
at law, in equity, or under this Note.

 

3.           Lost
or Stolen Note. Upon notice to the Borrower of the loss, theft, destruction or mutilation of this Note, and, in the case of
loss, theft or destruction, of an indemnification undertaking by the Holder to the Borrower in a form reasonably acceptable to
the Borrower and customary for similar circumstances in commercial lender/borrower circumstances, and, in the case of mutilation,
upon surrender and cancellation of the Note, the Borrower shall execute and deliver a new Note of like tenor and date and in substantially
the same form as this Note.

 

4.           Cancellation.
After all principal, accrued interest and all other sums at any time owed on this Note have been paid in full, this Note shall
automatically be deemed canceled, shall be surrendered to the Borrower for cancellation and shall not be re-issued.

 

5.           Governing
Law. This Note shall be construed and enforced in accordance with, and all questions concerning the construction, validity,
interpretation and performance of this Note shall be governed by, the laws of the State of New Jersey, without giving effect to
provisions thereof regarding conflict of laws. Each party hereto hereby irrevocably submits to the non-exclusive jurisdiction of
the state and federal courts sitting in the State of New Jersey for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper,
provided, however, nothing contained herein shall limit the Holder’s ability to bring suit or enforce this Note in any other
jurisdiction. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any
such suit, action or proceeding by sending by certified mail or overnight courier a copy thereof to such party at the address indicated
in the preamble hereto and agrees that such service shall constitute good and sufficient service of process and notice thereof.
Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH
PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

6.           Remedies,
Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies of the Holder as provided herein shall be
cumulative and concurrent and may be pursued singly, successively or together, at the sole discretion of the Holder, and may be
exercised as often as occasion therefor shall occur; and the failure to exercise any such right or remedy shall in no event be
construed as a waiver or release thereof.

 

    	3

    	 

    

 

7.           Specific
Shall Not Limit General; Construction. No specific provision contained in this Note shall limit or modify any more general
provision contained herein. This Note shall be deemed to be jointly drafted by the Borrower and the Holder and shall not be construed
against any person as the drafter hereof.

 

8.           Failure
or Indulgence Not Waiver. Holder shall not be deemed, by any act of omission or commission, to have waived any of its rights
or remedies hereunder, unless such waiver is in writing and signed by Holder, and then only to the extent specifically set forth
in the writing. A waiver on one event shall not be construed as continuing or as a bar to or waiver of any right or remedy to a
subsequent event.

 

9.           Notice.
Notice shall be given to each party at the address indicated in the preamble hereto or at such other address as provided to the
other party in writing.

 

10.         Usury
Savings Clause. Notwithstanding any provision in this Note, the total liability for payments of interest and payments in the
nature of interest, including, without limitation, all charges, fees, exactions, or other sums which may at any time be deemed
to be interest, shall not exceed the limit imposed by the usury laws of the jurisdiction governing this Note or any other applicable
law. In the event the total liability of payments of interest and payments in the nature of interest, including, without limitation,
all charges, fees, exactions or other sums which may at any time be deemed to be interest, shall, for any reason whatsoever, result
in an effective rate of interest, which for any month or other interest payment period exceeds the limit imposed by the usury laws
of the jurisdiction governing this Note, all sums in excess of those lawfully collectible as interest for the period in question
shall, without further agreement or notice by, between, or to any party hereto, be applied to the reduction of the outstanding
principal balance of this Note immediately upon receipt of such sums by the Holder hereof, with the same force and effect as though
the Borrower had specifically designated such excess sums to be so applied to the reduction of such outstanding principal balance
and the Holder hereof had agreed to accept such sums as a penalty-free payment of principal; provided, however, that the Holder
of this Note may, at any time and from time to time, elect, by notice in writing to the Borrower, to waive, reduce, or limit the
collection of any sums in excess of those lawfully collectible as interest rather than accept such sums as a prepayment of the
outstanding principal balance. It is the intention of the parties that the Borrower does not intend or expect to pay nor does the
Holder intend or expect to charge or collect any interest under this Note greater than the highest non-usurious rate of interest
which may be charged under applicable law.

 

11.         Binding
Effect. This Note shall be binding upon the Borrower and the successors and assigns of the Borrower and shall inure to the
benefit of Holder and the successors and assigns of Holder.

 

    	4

    	 

    

 

12.         Severability.
In the event any one or more of the provisions of this Note shall for any reason be held to be invalid, illegal, or unenforceable,
in whole or in part, in any respect, or in the event that any one or more of the provisions of this Note operates or would prospectively
operate to invalidate this Note, then and in any of those events, only such provision or provisions shall be deemed null and void
and shall not affect any other provision of this Note. The remaining provisions of this Note shall remain operative and in full
force and effect and shall in no way be affected, prejudiced, or disturbed thereby.

 

13.         Amendments.
The provisions of this Note may be changed only by a written agreement executed by the Borrower and Holder.

 

[Signature pages follows]

 

    	5

    	 

    

 

IN WITNESS WHEREOF,
the Borrower has caused this Note to be executed on and as of the date set forth above.

 

	 	/s/ Thomas J. Knox	 
	 	THOMAS J. KNOX	 

 

[ signature page to Promissory Note ]

 

4826-0100-7888, v. 4

 

    	6

    	 

    

 

EXHIBIT B

 

INVESTOR QUESTIONAIRE

 

PURCHASER QUESTIONNAIRE

 

Purpose of this Questionnaire.

 

Shares of common stock,
par value $.001 per share, of Akers Biosciences, Inc., a New Jersey corporation (the “Company”), are being offered
without registration under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of
certain states, in reliance on the private offering exemption contained in Rule 506 of the Securities Act and on Regulation D of
the Securities and Exchange Commission thereunder (“Regulation D”), and in reliance on similar exemptions under certain
applicable state laws. The purpose of this Purchaser Questionnaire is to assure the Company that the proposed purchaser meets the
standards imposed for the application of such exemptions, including, but not limited to, whether the proposed purchaser qualifies
as an “accredited investor,” as defined in Rule 501 under the Securities Act, or a “sophisticated investor,”
as defined in Rule 506 under the Securities Act. Your answers will at all times be kept strictly confidential. However, by signing
this Purchaser Questionnaire, you agree that the Company may present this Purchaser Questionnaire to such parties as the Company
may deem appropriate if called upon under applicable law to establish the availability of any exemption from registration of the
private placement, or if the contents hereof are relevant to any issue in any action, suit or proceeding to which the Company is
a party or by which it may be bound. The undersigned realizes that this Purchaser Questionnaire does not constitute an offer by
the Company to sell shares of its common stock, but is a request for information.

 

THE COMPANY WILL NOT OFFER OR SELL SHARES
TO ANY INDIVIDUAL WHO HAS NOT FILLED OUT, AS THOROUGHLY AS POSSIBLE, A PROSPECTIVE PURCHASER QUESTIONNAIRE.

 

Instructions:

 

One (1) copy of this Purchaser Questionnaire
should be completed, signed, dated and delivered to:

 

Akers Biosciences, Inc.

201 Grove Road

Thorofare, New Jersey USA 08086

Attn: Thomas A, Nicolette

 

Please contact Mr. Thomas A. Nicolette
at (856) 848-2116, if you have any questions with respect to this Purchaser Questionnaire.

 

PLEASE ANSWER ALL QUESTIONS. If the appropriate
answer is “None” or “Not Applicable,” so state. Please print or type your answers to all questions. Attach
additional sheets if necessary to complete your answers to any item.

 

    	 

    	 

    

 

		I.	General Information:

 

Name:   _____________________________________________________________________________

 

Date of Birth:   ______________________________________________________________________

 

Residence Address:   _________________________________________________________________

 

____________________________________________________________

 

Business Address:    ___________________________________________________________________

 

__________________________________________________________________

 

Home Telephone No.:   ________________________________________________________________

 

Business Telephone No:   ____________________________________________________________

 

E-mail Address:   ___________________________________________________________________

 

Preferred Mailing Address:   ________
Business   or _________   Home (check one)

 

Social Security Number:   ____________________________________________________________

 

Marital Status:   ____________________________________________________________________

 

		II.	Financial Condition:

 

1.            Did your individual annual income during
each of 2010 and 2009 exceed $200,000, and do you reasonably expect your individual annual income during 2011 to exceed $200,000?

 

Yes _______       No _______

 

2.            Did your joint (with spouse) annual
income during each of 2010 and 2009 exceed $300,000, and do you reasonably expect your joint annual income during 2011 to exceed
$300,000?

 

Yes _______       No _______

 

3.            Does your individual net worth, or joint
net worth with your spouse, at the time of purchase, exceed $1,000,000, excluding the value of your primary residence, calculated
by subtracting from the estimated fair market value of the property the amount of debt secured by the property, up to the estimated
fair market value of the property?

 

Yes _______        No _______

 

4.            The undersigned is a director or executive
officer of the Company which is issuing and selling the shares of common stock.

 

Yes
_______       No _______ 

 

    	 

    	 

    

 

5.             The undersigned is a bank or a savings
and loan association, whether acting in its individual or fiduciary capacity; broker dealer; insurance company; investment company
registered under the Investment Company Act of 1940 or a business development company as defined in said Act; small business investment
company (“SBIC”) licensed by the U.S. Small Business Administration; plan established or maintained by a state, its
political subdivision or any agency or instrumentality thereof maintained for the benefit of its employees, if such plan has total
assets in excess of $5,000,000; any employee benefit plan within the meaning of Title 1 of ERISA, if the investment decision is
made by a plan fiduciary which is either a bank, savings and loan association, insurance company or registered investment advisor,
or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self directed plan, with investment decisions
made solely by persons that are accredited subscribers. (Describe entity below)

 

	 	 	 	 
	 	 	 	 

6.             The undersigned is a private business
development company as defined in Section 202(a)(22) of the Investment Advisors Act of 1940. (Describe entity below)

 

	 	 	 	 
	 	 	 	 

7.              The undersigned is a corporation,
partnership, Massachusetts business trust or non-profit organization within the meaning of Section 501(c)(3) of the Internal Revenue
Code, in each case not formed for the specific purpose of acquiring the Company’s shares of common stock and with total assets
in excess of $5,000,000. (Describe entity below)

 

	 	 	 	 
	 	 	 	 

8.             The undersigned is a trust with total
assets in excess of $5,000,000 and not formed for the specific purpose of acquiring the Company’s common stock, where the
purchase is directed by a “sophisticated person” as defined in Regulation 506(b)(2)(ii) under the Securities Act.

 

  Yes _______     No _______

9.             The undersigned is an entity (other
than a trust) of which all of the equity owners are “accredited investors” within one or more of the above categories.
If relying upon this Category 9 alone, each equity owner must complete a separate copy of this Agreement. (Describe entity below)

 

	 	 	 	 
	 	 	 	 

 

10.             The undersigned is not within any
of the categories above and is therefore not an accredited investor.

 

   Yes _______    No _______

 

The undersigned agrees that the
undersigned will notify the Company at any time on or prior to the date of termination of the offering in the event that the representations
and warranties made by the undersigned in this purchaser questionnaire shall cease to be true, accurate and/or complete.

 

		III.	Suitability (Please
answer each question below)

 

(a)           For an individual subscriber, please
describe your current employment, including the company by which you are employed and its principal business:

  

________________________________________________________________________________________________________________

 

    	 

    	 

    

 

 ________________________________________________________________________________________________________________

 ____________________________________________

 

(b)            For an individual subscriber, please
describe any college or graduate degrees held by you:

________________________________________________________________________________________________________________

 ________________________________________________________________________________________________________________

 ____________________________________________

 

(c)            For all subscribers, please list
types of prior investments:

________________________________________________________________________________________________________________

 ________________________________________________________________________________________________________________

 ____________________________________________

 

(d)           For all subscribers, please state
whether you have participated in any other private placements before:

 

YES_______   NO_______

 

(e)            If your answer to question (d) above
is “YES”, please indicate frequency of such prior participation in private placements of:

 

	 	 	Public	 	Private	 	 
	 	 	Companies	 	Companies	 	Public or Private
	 	 	 	 	 	 	 
	Frequently	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Occasionally	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Never	 	 	 	 	 	 

 

(f)           For individual subscribers, do you
expect your current level of income to significantly decrease in the foreseeable future:

 

YES_______    NO_______

 

(g)           For trust, corporate, partnership
and other institutional subscribers, do you expect your total assets to significantly decrease in the foreseeable future?

 

YES_______   NO_______

 

(h)           For all subscribers, do you have
any other investments or contingent liabilities which you reasonably anticipate could cause you to need sudden cash requirements
in excess of cash readily available to you:

 

YES_______   
NO _______

 

(i)           For all subscribers, are you familiar
with the risk aspects and the non-liquidity of investments such as the securities for which you are seeking to subscribe?

 

YES_______   
NO_______

 

    	 

    	 

    

 

(j)            For all subscribers, do you understand
that there is no guarantee of financial return on this investment and that you run the risk of losing your entire investment?

 

YES_______   NO_______

 

		IV.	FINRA AFFILIATION.

 

Are you affiliated or associated with a
FINRA member firm (please check one):

 

Yes _________   No __________

 

If yes, please describe:

_________________________________________________________

_________________________________________________________

_________________________________________________________

 

If subscriber is a Registered Representative
with a FINRA member firm, have the following acknowledgment signed by the appropriate party:

 

The undersigned FINRA member firm acknowledges
receipt of the notice required by the Rules of Fair Practice.

 

	 	 	 
	Name of FINRA Member Firm	 	 
	By: 	 	 	Date: 	 
	 	Authorized Officer	 	 

 

    	 

    	 

    

 

By signing this Purchaser Questionnaire,
I hereby confirm the following statements:

 

(i)            I am aware that the offering
of shares of common stock of the Company will involve securities that are not transferable and for which no market exists, thereby
requiring my investment to be maintained for an indefinite period of time;

 

(ii)            I acknowledge that any delivery
to me of any offering materials relating to the shares of common stock of the Company prior to the determination by the Company
of my suitability as an investor shall not constitute an offer of such shares until such determination of suitability shall be
made, and I agree that I shall promptly return the offering materials to the Company upon request; and

 

(iii)            My answers to the foregoing
questions are, and were on any date (if any) that I previously subscribed for shares of common stock of the Company, true and complete
to the best of my information and belief and were true on any date that I previously subscribed for shares of common Stock of the
Company, and I will promptly notify the Company of any changes in the information I have provided.

 

Executed:

 

	Date:________________  	 
	 	 
	 	 
	(Printed Name)	 
	 	 
	Place:  ____________________________________	 
	 	 
	 	 
	(Signature)	 
	 	 
	 	 
	(Printed Name of Joint Subscriber)	 

  

    	 

    	 

    

 

EXHIBIT C

 

CERTIFICATE OF DESIGNATION 

 

 

    	 

    	 

    

  

CERTIFICATE TO SET FORTH DESIGNATIONS, VOTING
POWERS, PREFERENCES,

 LIMITATIONS, RESTRICTIONS, AND RELATIVE RIGHTS OF SERIES A CUMULATIVE

 CONVERTIBLE PREFERRED STOCK, $.0001
PAR VALUE PER SHARE

 

Akers Biosciences, Inc. a New Jersey corporation
(the “Corporation”), hereby certifies that the following resolutions were adopted by the Board of Directors of the
Corporation (the “Board”) on September 13, 2012:

 

RESOLVED, that
pursuant to the authority granted and vested in the Board in accordance with the provisions of the Certificate of Incorporation
of the Corporation, the Board hereby authorizes a series of the Corporation’s previously authorized preferred stock, par
value $0.001 per share (the “Preferred Stock”), and hereby states that the designation and number of shares, and fixes
the relative rights, preferences, privileges, powers and restrictions thereof as follows:

 

1. Name of the Corporation:

 

Akers Biosciences, Inc.

 

2. Designation:

 

Series A Cumulative Convertible Preferred
Stock, $0.001 par value per share, issuable only pursuant to and in connection with that certain Subscription Agreement dated,
September 14, 2012 among the Corporation and the original Purchaser of the Series A Convertible Preferred Stock (the “Subscription
Agreement”). Capitalized terms employed herein but not otherwise defined shall have the meanings ascribed them in the Subscription
Agreement.

 

A. Designation; Number of Shares.
The designation of said series of preferred stock shall be Series A Cumulative Convertible Preferred Stock (the “Series A
Preferred Stock”). The number of shares of Series A Preferred Stock shall be up to 10,000,000 shares. Each share of Series
A Preferred Stock shall have a stated value equal to $0.0725 (as adjusted for stock dividends, combinations or splits with respect
to such shares)(the “Series A Stated Value).

 

    	 

    	 

    

 

B. Dividends.

 

(a)          The
holders of Series A Preferred Stock (collectively the “Holders” and each a “Holder”) shall be entitled
to receive preferential dividends at a rate of $0.00135 per share of Series A Preferred Stock per annum out of any funds of the
Corporation legally available under all applicable law for such purpose, but prior to and before any dividend or other distribution
will be paid or declared and set apart for payment on any shares of any Junior Stock (defined below). Such dividends shall compound
annually and be fully cumulative, and shall accumulate from the date of original issuance of the Series A Preferred Stock, and
shall be payable annually on the last day of each calendar year in arrears in cash (provided that if the last day of a calendar
year is a Saturday, Sunday or legal holiday in New York, NY, then such dividend shall be payable, without interest for such additional
day(s), on the next day that is not a Saturday, Sunday or legal holiday) (the “Dividend Payment Date”). Dividends on
Series A Preferred must be delivered and paid to the Holders not later than five (5) business days after each specified Dividend
Payment Date.

 

(b)          The
dividends on the Series A Preferred Stock shall be cumulative whether or not declared so that, if at any time full cumulative dividends
at the rate aforesaid on all shares of the Series A Preferred Stock then outstanding from the date hereof to the end of the annual
dividend period next preceding such time shall not have been paid or declared and set apart for payment, or if the full dividend
on all outstanding Series A Preferred Stock for any period shall not have been paid or declared and set apart for payment, the
amount of the deficiency shall be paid or declared and set apart for payment before any sum shall be set apart for or applied by
the Corporation or a subsidiary of the Corporation to the purchase, redemption or other acquisition of the Series A Preferred Stock
or any shares of any other class of stock ranking on a parity with the Series A Preferred Stock and before any dividend or other
distribution shall be paid or declared and set apart for payment on any Junior Stock and before any sum shall be set aside for
or applied to the purchase, redemption or other acquisition of any Junior Stock.

 

    	 

    	 

    

 

C.           Liquidation
and Redemption Rights.

 

(i)           In
the event of (i) any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary
(each, a “Liquidation”), (ii) a merger, consolidation or transfer of voting control in which the stockholders immediately
prior to such transaction do not own securities representing a majority of the voting power of the surviving entity or its parents
immediately following such transaction, but excluding (x) any transaction effected exclusively to change the domicile of the Corporation,
or (y) any transaction effected principally for bona fide equity financing purposes in which cash is received by the Corporation
or indebtedness is cancelled or converted or a combination thereof (an “Acquisition”), (iii) a sale, lease, or other
disposition of all or substantially all of the assets of the Corporation (an “Asset Transfer”) (items (i), (i) and
(iii), each a “Liquidation Event”), the holder of Series A Preferred Stock shall be entitled to receive, prior and
in preference to holders of Common Stock, assets of the Corporation available for distribution to the holders of capital stock
of the Corporation up to and including the amount of any dividends, due and owing pursuant to Section 2.B. above. Following the
payment of any dividends due the Holders, the Series A Preferred Stock shall not have any priority or preference with respect to
any distribution of any of the assets of the Corporation. After the payment of the liquidation preference (consisting of any unpaid
cumulative dividend) of the Series A Preferred Stock as contemplated above (which shall be paid ratably if insufficient to be paid
in full), the assets legally available for distribution, if any, shall be distributed ratably to the holders of Common Stock and
Series A Preferred Stock (based on the number of shares of Common Stock the Series A Preferred Stock is convertible into pursuant
to Section D regardless of whether or not such shares have been authorized and reserved by the stockholders, such number determined
on the last business day prior to such payment). In the case of any Acquisition or Asset Transfer, (i) if the consideration received
is securities of a corporation or property other than cash, its value will be deemed its fair market value as determined in good
faith by the Board on the date such determination is made and (ii) any payments or proceeds that could be made or distributed following
the closing of any Acquisition or Asset Transfer as a result of the termination or expiration of an escrow or operation of an earn-out
or similar arrangement or termination of dissenter’s or appraisal rights, shall be treated for the purposes of this Section
C as if paid at the closing of such Acquisition or Asset Transfer.

 

(i)          If
within one year of the date hereof the Corporation has not authorized and reserved shares of Common Stock sufficient for the purpose
of effecting the conversion contemplated hereby then all of the outstanding shares the Series A Preferred Stock shall be redeemable
by the Holders (by majority vote thereof), in their sole discretion, for fifteen years from the date hereof, at the greater of
(i) the fair market value of the Common Stock into which the Series A Preferred Stock is contemplated to be convertible hereby
(regardless of whether authorized by stockholders) on the date of such optional redemption (a letter by hand or certified mail
to the Corporation signed by a majority of the Holders shall be sufficient for redemption by the Corporation) as determined in
good faith by an independent investment banking firm of nationally recognized standing retained by the Board of Directors less
$500,000 or (ii) $725,000 plus any unpaid dividends required to be paid hereby. If a court of competent jurisdiction shall determine
that the fair market value of the shares is 10% or greater than as determined above then the fair market value for purposes of
this subsection shall be such amount plus the reasonable legal fees of Holders. The payment for and closing of such redemption
of Series A Preferred Stock shall occur at the offices of the Corporation on a date that is three months from the date of notice
of redemption. The Corporation shall not be entitled to any representations or warranties from the Holders at such closing other
than their title to such shares and the absence of any liens thereon. No other redemption of the Series A Preferred Stock is permitted
by the Corporation.

 

    	 

    	 

    

 

D.           Conversion
into Common Stock. Holders of shares of Series A Preferred Stock shall have the following conversion rights and obligations:

 

1. Conditions to Conversion: Each
Holder of Series A Preferred Stock shall have the right to convert such shares at a closing for such purpose upon completion of
the following: (i) payment to the Corporation of an aggregate principal amount of an additional $500,000; (ii) repayment of the
aggregate principal amount and all accrued interest due under the Promissory Note (as defined in the Subscription Agreement) and
(iii) an increase of the Corporation’s authorized shares of Common Stock.

 

(a)          Provided
that the conditions set forth in paragraph D (1) are satisfied and subject to the further provisions of this paragraph D 1 (a),
each Holder of Series A Preferred Stock shall have the right at any time commencing after the issuance to such Holder of Series
A Preferred Stock, to convert such shares into fully paid and non-assessable shares of Common Stock of the Corporation determined
in accordance with the applicable conversion price provided in paragraph D(b) below (the “Conversion Price”). Each
one share of Series A Preferred Stock shall be initially convertible into five (5) fully paid non-assessable shares of Common Stock
of the Corporation, subject to adjustment herein. For the avoidance of doubt, on the date hereof the Series A Preferred Stock shall
be initially convertible into 50,000,000 shares of Common Stock, subject to adjustment as provided herein.

 

(b)          The
Conversion Price of the Series A Preferred Stock shall be initially $0.0145, subject to adjustment, if any, only as described herein.
Each share of Series A Preferred Stock shall be convertible into such number of fully paid and nonassessable shares of Common Stock
as is determined by dividing $0.0725 by the Conversion Price in effect at the time of conversion.

 

(c)          Holder
will give notice of its decision to exercise its right to convert the Series Preferred Stock, or part thereof, by sending by facsimile,
hand delivery or certified mail an executed and completed notice of conversion (“Notice of Conversion”) to the Corporation.
The Holder will not be required to surrender the Series A Preferred Stock certificate until the Series A Preferred Stock has been
fully converted. Each date on which a Notice of Conversion is sent by facsimile to the Corporation in accordance with the provisions
hereof shall be deemed a Conversion Date. The Corporation will itself, or cause the Corporation’s transfer agent to, transmit
the Corporation’s Common Stock certificates representing the Common Stock issuable upon conversion of the Series A Preferred
Stock to the Holder via express courier for receipt by such Holder within three (3) business days after receipt by the Corporation
of the Notice of Conversion (the “Delivery Date”). In the event the Common Stock is electronically transferable, then
delivery of the Common Stock must be made by electronic transfer, provided request for such electronic transfer has been
made by the Holder. A Series A Preferred Stock certificate representing the balance of the Series A Preferred Stock not so converted
will be provided by the Corporation to the Holder if requested by Holder, provided the Holder has delivered the original
Series A Preferred Stock certificate to the Corporation. To the extent that a Holder elects not to surrender the certificate for
such Series A Preferred Stock for reissuance upon partial payment or conversion, the Holder hereby indemnifies the Corporation
against any and all loss or damage attributable to a third-party claim in an amount in excess of the actual amount of the Series
A Stated Value then owned by the Holder.

 

    	 

    	 

    

 

In the case of the exercise of the conversion
rights set forth in paragraph D1(a) hereof, the conversion privilege shall be deemed to have been exercised and the shares of Common
Stock issuable upon such conversion shall be deemed to have been issued upon the date of receipt by the Corporation of the Notice
of Conversion. The person or entity entitled to receive Common Stock issuable upon such conversion shall, on the date and thereafter,
be treated for all purposes as the record holder of such Common Stock and shall on the same date cease to be treated for any purpose
as the record Holder of such shares of Series A Preferred Stock so converted.

 

Upon the conversion of any shares of Series
A Preferred Stock, no adjustment or payment shall be made with respect to such converted shares on account of any dividend on the
Common Stock, except that the Holder of such converted shares shall be entitled to be paid any dividends declared on shares of
Common Stock after conversion thereof.

 

The Corporation shall not be required,
in connection with any conversion of the Series A Preferred Stock and payment of dividends on Series A Preferred Stock, to issue
a fraction of a share of its Series A Preferred Stock or Common Stock and shall instead deliver a stock certificate representing
the next higher whole number.

 

(d)          The
Conversion Price determined pursuant to Paragraph D (b) shall be subject to adjustment from time to time as follows:

 

(i)          In
case the Corporation shall at any time (A) declare any dividend or distribution on its Common Stock or other securities of the
Corporation other than the Series A Preferred Stock, (B) split or subdivide the outstanding Common Stock, (C) combine the outstanding
Common Stock into a smaller number of shares, or (D) issue by reclassification of its Common Stock any shares or other securities
of the Corporation, then in each such event the Conversion Price shall be adjusted proportionately so that the Holders of Series
A Preferred Stock shall be entitled to receive the kind and number of shares or other securities of the Corporation which such
Holders would have owned or have been entitled to receive after the happening of any of the events described above had such shares
of Series A Preferred Stock been converted immediately prior to the happening of such event (or any record date with respect thereto).
Such adjustment shall be made whenever any of the events listed above shall occur. An adjustment made to the Conversion Price pursuant
to this paragraph D1(d)(i) shall become effective immediately after the effective date of the event.

 

    	 

    	 

    

 

(e)           (i)          In
case of any merger of the Corporation with or into any other corporation (other than a merger in which the Corporation is the surviving
or continuing corporation and which does not result in any reclassification, conversion, or change of the outstanding shares of
Common Stock), lawful provision shall be made so that Holders of Series A Preferred Stock shall thereafter have the right to convert
each share of Series A Preferred Stock into the kind and amount of shares of stock and/or other securities or property receivable
upon such merger by a Holder of the number of shares of Common Stock into which such shares of Series A Preferred Stock might have
been converted immediately prior to such consolidation or merger. Such provision shall also provide for adjustments which shall
be as nearly equivalent as may be practicable to the adjustments provided for in sub-paragraph (d) of this paragraph D 1. The foregoing
provisions of this paragraph D 1 (e) shall similarly apply to successive mergers.

 

(ii)         In
case of any sale or conveyance to another person or entity of the property of the Corporation as an entirety, or substantially
as an entirety, in connection with which shares or other securities or cash or other property shall be issuable, distributable,
payable, or deliverable for outstanding shares of Common Stock, then, lawful provision shall be made so that the Holders of Series
A Preferred Stock shall thereafter have the right to convert each share of the Series A Preferred Stock into the kind and amount
of shares of stock or other securities or property that shall be issuable, distributable, payable, or deliverable upon such sale
or conveyance with respect to each share of Common Stock immediately prior to such conveyance.

 

(f)          Whenever
the number of shares to be issued upon conversion of the Series A Preferred Stock is required to be adjusted as provided in this
paragraph D 1 (f), the Corporation shall forthwith compute the adjusted number of shares to be so issued and prepare a certificate
setting forth such adjusted conversion amount and the facts upon which such adjustment is based, and such certificate shall forthwith
be filed with the Transfer Agent for the Series A Preferred Stock and the Common Stock, and the Corporation shall give notice in
the manner described in the Subscription Agreement to each Holder of record of Series A Preferred Stock of such adjusted conversion
price not later than the first business day after the event, giving rise to the adjustment.

 

(g)          In
case at any time the Corporation shall propose:

 

    	 

    	 

    

 

(i)          to
pay any dividend or distribution payable in shares upon its Common Stock or make any distribution (other than cash dividends) to
the Holders of its Common Stock; or any other rights; or

 

(ii)         to
offer for subscription to the Holders of its Common Stock any additional shares of any class or

 

(iii)        any
capital reorganization or reclassification of its shares or the merger of the Corporation with another corporation (other than
a merger in which the Corporation is the surviving or continuing corporation and which does not result in any reclassification,
conversion, or change of the outstanding shares of Common Stock); or

 

(iv)        a
Liquidation Event other than involuntary liquidation, dissolution or winding up of the Corporation;

 

then, and in any one or more of said cases,
the Corporation shall cause at least fifteen (15) business days prior notice of the date on which (A) the books of the Corporation
shall close or a record be taken for such stock dividend, distribution, or subscription rights, or (B) such capital reorganization,
reclassification, merger, dissolution, liquidation or winding-up shall take place, as the case may be, to be mailed to the Holders
of record of the Series A Preferred Stock.

 

(h)          The
term “Common Stock” as used in this Certificate of Designation shall mean the Common Stock of the Corporation as such
stock is constituted at the date of issuance thereof or as it may from time to time be changed, or shares of stock of any class
or other securities and/or property into which the shares of the Series A Preferred Stock shall at any time become convertible
pursuant to paragraph D hereto. The term “Junior Stock” shall mean all Common Stock and any class or series of stock
or any other securities convertible into equity securities, directly or indirectly, not ranking on a parity with or senior to the
Series A Preferred Stock.

 

(i)           The
Corporation shall pay the amount of any and all issue taxes (but not income taxes) which may be imposed in respect of any issue
or delivery of stock upon the conversion of any shares of Series A Preferred Stock, but all transfer taxes and income taxes that
may be payable in respect of any change of ownership of Series A Preferred Stock or any rights represented thereby or of stock
receivable upon conversion thereof shall be paid by the person or persons surrendering such stock for conversion.

 

    	 

    	 

    

 

E.           Voting
Rights.

 

(i)          The
Holders of shares of Series A Preferred Stock shall vote together with the holders of the Common Stock with each one share of Series
A Preferred Stock equivalent to five (5) votes per share. Upon conversion to Common Stock the Series A Preferred Stock shall have
that certain number of votes as the number of shares of Common Stock into which it is converted.

 

(ii)         For
so long as the Series A Preferred Stock is outstanding, the Holders of the Series A Preferred Stock, provided
that the holders own more than 15% of the Corporation’s common stock or 10,000,000 shares of Series A Preferred Stock,
voting as a separate class, shall be entitled to elect one (1) member of the Board (the “Series A Director”) at each
meeting of, or pursuant to each written consent of, the Corporation’s stockholders for the election of directors, and to
remove from office such directors and to fill any vacancy caused by the resignation, death or removal of the Series A Director.

 

(iii)        For
so long as the Series A Preferred Stock is outstanding, the approval of a majority of the Holders of the Series A Preferred Stock,
voting as a separate class, shall be required to take any of the following actions: (1) any amendment, alteration, or repeal of
any provision of the Certificate of Incorporation or Bylaws (including the filing of any Certificate of Designation), that alters
or changes the voting or other powers, preferences, or other special rights, privileges or restrictions of the Series A Preferred
Stock (whether by merger, consolidation or otherwise), so as to affect them adversely; (2) any authorization or designation, whether
by reclassification or otherwise, or any issuance of any new class or series of stock or any other securities convertible into
equity securities, directly or indirectly, ranking on a parity with or senior to the Series A Preferred Stock; (3) any increase
or decrease in the number of members of the Board to a number other than three (3); and (4) any purchase, redemption, repurchase,
declaration or payment of dividends or other distributions with respect to any equity securities of the Corporation (other than
the payment of dividends with respect to the Series A Preferred Stock).

 

(iv)        If
there are not sufficient shares of Common Stock authorized and reserved to permit the conversion of the Series A Preferred Stock
as contemplated hereby then, for so long as such is the case, the approval of a majority of the Holders of the Series A Preferred
Stock shall be required to take any of the following actions: (1) any increase or decrease in the number of authorized shares of
preferred stock or Common Stock except for the Common Stock necessary to permit conversion of the Series A Preferred Stock as contemplated
hereby; and (2) any Liquidation Event other than involuntary liquidation, dissolution or winding up of the Corporation.

 

    	 

    	 

    

 

F.           Anti-Dilution
Protection. 

 

If the Corporation issues
any additional shares of Common Stock or Options or Convertible Securities, excluding any securities issued as compensation or
options issued in connection with an employee incentive plan that has been approved by the Board (the “Additional Shares”),
for consideration per share less than $0.0145, then the Conversion Price shall be reduced, concurrently with such issue, to the
consideration per share received by the Corporation for such issue of the Additional Shares; provided that if such issuance or
deemed issuance was without consideration, then the Corporation shall be deemed to have received an aggregate of $.001 of consideration
for all such Additional Shares of Common Stock issued or deemed to be issued. In the event of an issuance of Additional Shares
in tranches or other multiple closings, the adjustment to the Conversion Price shall be calculated as if all Additional Shares
were issued at the first closing. “Option” shall mean rights, options or warrants to subscribe for, purchase or otherwise
acquire Common Stock or Convertible Securities. “Convertible Securities” shall mean any evidences of indebtedness,
shares or other securities directly or indirectly convertible into or exchangeable for Common Stock, but excluding Options.

 

G.           Reservation
of Common Stock.

 

The Corporation shall
at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting
the conversion of the shares of the Series Preferred, such numb of its shares of Common Stock as shall from time to time be sufficient
to effect the conversion of all outstanding shares of Series A Preferred Stock. If at any time, for example, the date hereof, the
number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding
shares of Series A Preferred Stock, the Corporation will take such corporate action as may be necessary to increase its authorized
but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.

 

IN WITNESS WHEREOF, the Corporation has caused this Certificate
of Designation to be signed by its duly authorized officer on September 17, 2012.

 

Akers Biosciences, Inc.

 

	By:	/s/ Thomas A. Nicolette	 
	 	 
	Name: Thomas A. Nicolette	 
	Title: President and Chief Executive Officer

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