Document:

Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

THIS SECURITIES PURCHASE AGREEMENT
(this “Agreement”) is made and entered into as of June 27, 2022, by and between Greenlane Holdings, Inc., a Delaware
corporation (the “Company”) and the purchaser executing the purchase signature page attached hereto (the “Purchaser”);

 

WHEREAS, the Company has prepared
and filed with the Securities and Exchange Commission (the “SEC”), in accordance with the provisions of the Securities
Act of 1933, as amended (the “Securities Act”), and the applicable rules and regulations thereunder, a registration
statement on Form S-3 (Commission File No. 333-257654), including a base prospectus and a prospectus supplement to the base prospectus,
relating to the securities to be issued and sold pursuant to this Agreement. The term “Registration Statement” as used
herein refers to such registration statement (including all financial schedules and exhibits), as amended or as supplemented, and includes
information contained in the base prospectus and the prospectus supplement thereto (the “Prospectus”) filed with the
SEC pursuant to Rule 424(b) of the rules under the Securities Act and deemed to be part thereof at the time of effectiveness (the “Effective
Date”) pursuant to Rule 430A of the rules under the Securities Act; and

 

WHEREAS, the Company intends
to pay A.G.P./Alliance Global Partners (the “Placement Agent”) a fee in respect of the sale of Units (as defined below)
to Purchaser, and the Company has entered into a Placement Agency Agreement (the “Placement Agency Agreement”) with
the Placement Agent that contains certain customary representations, warranties, covenants and agreements of the Company for the benefit
of the Placement Agent alone.

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are
hereby acknowledged, the Company and Purchaser agree as follows:

 

ARTICLE I

PURCHASE AND SALE

 

1.1
Closing. Purchaser shall purchase from the Company, and the Company shall issue and sell to Purchaser, a number of units (the “Units”)
consisting of a combination of (i) one share (a “Share” and, collectively, the “Shares”) of Class
A common stock of the Company, par value $0.01 per share (the “Common Stock”) and/or one pre-funded warrant (the “Pre-Funded
Warrant”) and (ii) one warrant (the “Standard Warrant”) to purchase a share of Common Stock, at an exercise
price of $0.25 per share of Common Stock, equal to Purchaser’s subscription amount as set forth on the signature page hereto (the
 “Subscription Amount”) divided by the Purchase Price (as defined below). The number of shares of Common Stock
and/or Pre-Funded Warrants shall be determined based on whether a Purchaser’s Subscription Amount would cause such Purchaser’s
beneficial ownership to exceed 9.99% of the issued and outstanding shares of Common Stock, and in such event, in lieu of Common Stock
in excess of such amount, such Purchaser shall be issued a Pre-Funded Warrant for such excess amount. Each Purchaser’s Subscription
Amount (it being understood that on Closing, such amount shall be reduced by, if applicable, the aggregate exercise price of the Pre-Funded
Warrants issuable to such Purchaser) as set forth on the signature page hereto. Upon satisfaction of the conditions set forth in Section
1.3, the closing shall occur at the offices of the Company on June 29, 2022, or at such other place or on such other date as the parties
shall mutually agree, but in no event later than the second (2nd) Trading Day (as defined below in Section 3.3) following the
date hereof (or, if this Agreement is executed after 4:30 p.m. New York City time, the third (3rd) Trading Day) (the “Closing”).
The Pre-Funded Warrants together with the Standard Warrants are referred to herein as the “Warrants”. The shares of
Common Stock issuable upon the exercise of the Warrants are referred to herein as the “Warrant Shares”. The Warrant
Shares, collectively with the Shares and the Warrants, are referred to herein as the “Securities”.

 

1.2 Per Unit Purchase Price.
The per Unit purchase price shall be equal to $0.25 (the “Purchase Price”).

 

1.3 Closing Conditions.

 

(a) As a condition to the Purchaser’s
obligation to close, at the Closing, the Company shall have satisfied each of the conditions set forth below or shall deliver or cause
to be delivered to Purchaser the items set forth below, as appropriate:

 

     

     

    

 

(i) this Agreement duly executed
by the Company;

 

(ii) the Warrants duly executed
by the Company;

  

(iii) the representations
and warranties made by the Company herein, including in Annex II hereto, shall be true and correct in all material respects on the date
made and on the date of the Closing;

 

(iv) all covenants, agreements
and conditions contained in this Agreement, including in Annex II hereto, to be performed by the Company on or prior to the date of the
Closing shall have been performed or complied with in all material respects; and

 

(v) no statute, regulation,
executive order, decree, ruling or injunction shall have been enacted, promulgated, endorsed or threatened or is pending by or before
any governmental authority of competent jurisdiction which prohibits or threatens to prohibit the consummation of the transaction contemplated
by this Agreement.

  

(b) As a condition to the Company’s
obligation to close, at the Closing, Purchaser shall have satisfied each of the conditions set forth below or shall deliver or cause to
be delivered to the Company the items set forth below, as appropriate:

 

(i) this Agreement duly executed
by Purchaser;

 

(ii) the Purchaser shall have
complied with its obligations relating to settlement, funding and closing set forth on Annex I hereto (the terms of which are expressly
incorporated into this Agreement);

 

(iii) the representations
and warranties made by Purchaser herein shall be true and correct in all material respects on the date made and on the date of the Closing;

 

(iv) Purchaser shall have
performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement to
be performed, satisfied or complied with by Purchaser at or before the Closing; and

 

(v) no statute, regulation,
executive order, decree, ruling or injunction shall have been enacted, promulgated, endorsed or threatened or is pending by or before
any governmental authority of competent jurisdiction which prohibits or threatens to prohibit the consummation of the transaction contemplated
by this Agreement.

 

(c) As of the date of the Closing,
there shall have been no Material Adverse Effect (as defined below) with respect to the Company since the date hereof.

 

(d) Purchaser’s obligation
to purchase the Units will be subject to the termination rights set forth in the Placement Agency Agreement having not been exercised.

 

ARTICLE II

REPRESENTATIONS AND WARRANTIES

 

2.1 Representations and
Warranties of the Company. Except as set forth in the Company’s public filings under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), the Company hereby makes the following representations and warranties as of the date
hereof and as of the date of the Closing to Purchaser:

 

     

     

    

 

(a) Organization and Qualification.
The Company is an entity duly incorporated, validly existing and in good standing under the laws of the State of Delaware, with the
requisite corporate power and authority to own and use its properties and assets and to carry on its business as currently conducted.
The Company is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction
in which the nature of the business conducted or property owned by the Company makes such qualification necessary, except where the failure
to be so qualified or in good standing, as the case may be, would not have or reasonably be expected to result in (i) a material adverse
effect on the legality, validity or enforceability of this Agreement or that certain Escrow Agreement dated as of the date hereof, by
and among the Company, the Placement Agent and Continental Stock Transfer & Trust Company (the “Escrow Agreement,”
and together with this Agreement, the “Transaction Agreements”), (ii) a material adverse effect on the results of operations,
assets, business or financial condition of the Company, or (iii) a material adverse effect on the Company’s ability to perform in
any material respect on a timely basis its obligations under the Transaction Agreements (any of (i), (ii) or (iii), a “Material
Adverse Effect”).

 

(b) Authorization; Enforcement.
The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by the Transaction
Agreements and the Warrants and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction
Agreements and the Warrants by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly
authorized by all necessary corporate action on the part of the Company and no further action is required by the Company in connection
therewith. Each of the Transaction Agreements and the Warrants have been (or upon delivery will have been) duly executed by the Company
and, when delivered in accordance with the terms hereof and thereof, will constitute valid and binding obligations of the Company enforceable
against the Company in accordance with their terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally; and (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies.

 

(c) No Conflicts. The
execution, delivery and performance of the Transaction Agreements and the Warrants by the Company and the consummation by the Company
of the transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the Company’s
Amended and Restated Certificate of Incorporation or Second Amended and Restated Bylaws, or (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument
(evidencing a Company debt or otherwise) or other understanding to which the Company is a party or by which any property or asset of the
Company is bound or affected, or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other
restriction of any court or governmental authority to which the Company is subject (including federal and state securities laws and regulations),
or by which any property or asset of the Company is bound or affected; except in the case of each of clauses (ii) and (iii), such as would
not have or reasonably be expected to result in a Material Adverse Effect.

 

(d) Filings, Consents and
Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing
or registration with, any court or other federal, state, local or other governmental authority or other person in connection with the
execution, delivery and performance by the Company of the Transaction Agreements and the Warrants, other than (i) the filing with the
SEC of a Form 8-K and prospectus supplement relating to the offer and sale of the Units pursuant to the Registration Statement, and applicable
Blue Sky filings, if any, and (ii) such as have already been obtained.

 

(e) Capitalization. All
of the outstanding shares of the Company’s Common Stock are, and all of the Shares, when issued, will be, duly authorized, validly
issued, fully paid and nonassessable, and free and clear of all liens created by the Company. The Warrant Shares have been duly authorized,
and if and when issued and delivered by the Company against payment therefor as provided by the Warrants, shall be validly issued, fully
paid and nonassessable, and free and clear of all liens created by the Company. All of the outstanding shares of the Company’s Common
Stock were, the Shares will be, and the Warrant Shares (if and when issued) will be, issued in material compliance with all applicable
federal and state securities laws, including available exemptions therefrom, and none of such issuances were, and the issuance of the
Shares and the Warrant Shares will not be, made in violation of any pre-emptive or other rights. The Company has reserved from its duly
authorized capital stock the number of shares of Common Stock issuable pursuant to this Agreement and the Warrants. The issuance of the
Shares and the Warrant Shares will not trigger any anti-dilution rights of any existing securities of the Company.

 

(f) Registration Statement.
The Registration Statement has become effective under the Securities Act, and no stop order suspending the effectiveness of the Registration
Statement is in effect, and no proceedings for such purpose are pending before or threatened by the SEC; and any request on the part of
the SEC for additional information has been complied with.

 

     

     

    

 

(g) Securities Law Disclosure.
The Company shall (i) by 9:30 a.m. (New York City time) on June 27, 2022, issue a press release disclosing the material terms of the transactions
contemplated hereby, and (ii) by 5:30 p.m. (New York City time) on July 1, 2022, file a Current Report on Form 8-K, including this Agreement,
the Placement Agency Agreement and the form of Warrant as exhibits thereto, with the SEC. From and after the issuance of such press release,
the Company represents to the Purchaser that it shall have publicly disclosed all material, non-public information delivered to the Purchaser
by the Company or any of its subsidiaries, or any of their respective officers, directors, employees or agents in connection with the
transactions contemplated by this Agreement, the Placement Agency Agreement and the form of Warrant. In addition, effective upon the issuance
of such press release, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement,
whether written or oral, between the Company, any of its subsidiaries or any of their respective officers, directors, agents, employees
or affiliates on the one hand, and the Purchaser or any of its affiliates on the other hand, shall terminate.

 

The Company acknowledges and
agrees that the Purchaser may rely on the representations and warranties made to the Placement Agent contained in Section 1 of the Placement
Agency Agreement, and that the representations contained in this Section 2.1 shall not modify, amend or affect such Purchaser’s
right to rely on the Company’s representations and warranties contained in this Agreement or any representations and warranties
contained in the Placement Agency Agreement or any other document or instrument executed and/or delivered in connection with this Agreement
or the consummation of the transactions contemplated hereby.

 

2.2 Representations and
Warranties of Purchaser. Purchaser hereby represents and warrants as of the date hereof and as of the date of the Closing to the Company
as follows:

 

(a) Organization; Authority.
If Purchaser is not a natural person, such Purchaser is an entity duly organized, validly existing and in good standing under the laws
of the jurisdiction of its organization with full right, corporate, limited liability or partnership power and authority to enter into
and to consummate the transactions contemplated by the Transaction Agreements and otherwise to carry out its obligations thereunder. The
execution, delivery and performance by Purchaser of the transactions contemplated by the Transaction Agreements has been duly authorized
by all necessary corporate or similar action on the part of Purchaser. The Transaction Agreements to which it is a party have been duly
executed by Purchaser, and when delivered by Purchaser in accordance with the terms thereof, will constitute valid and legally binding
obligations of Purchaser, enforceable against it in accordance with their terms except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally and (ii) as
limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

 

(b) Information; Confidentiality.
Purchaser and its advisors, if any, have been furnished with all publicly available materials relating to the business, finances and operations
of the Company and such other publicly available materials relating to the offer and sale of the Units as have been requested by Purchaser.
Purchaser and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Neither such inquiries nor any
other due diligence investigations conducted by Purchaser or its advisors, if any, or its representatives shall modify, amend or affect
such Purchaser’s right to rely on the Company’s representations and warranties contained herein. Purchaser understands that
its investment in the Units involves a high degree of risk. Purchaser has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to its acquisition of the Units.

 

(c) No Governmental Review.
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on or made
any recommendation or endorsement of the Units or the fairness or suitability of the investment in the Units, nor have such authorities
passed upon or endorsed the merits of the offering of the Units.

 

(d) Sales; Short Selling.
From and after the date Purchaser received any information about the existence of this offering, Purchaser has not offered, pledged, sold,
contracted to sell, sold any option or contract to purchase, purchased any option or contract to sell, granted any option, right or warrant
to purchase, loaned, or otherwise transferred or disposed of, directly or indirectly, any shares of Common Stock or any securities convertible
into or exercisable or exchangeable for Common Stock, entered into any swap or other arrangement that transfers to another, in whole or
in part, any of the economic consequences of ownership of the Common Stock, or directly or indirectly, through related parties, affiliates
or otherwise sold “short” or “short against the box” (as those terms are generally understood, provided that,
for the avoidance of doubt, the locating and/or borrowing of shares of Common Stock shall not be included in this Section 2.2(d)) any
equity security of the Company. Purchaser covenants that it will not, nor will it authorize or permit any person acting on its behalf
to, engage in any such transactions until following the public disclosure of the transaction as contemplated by Section 2.1(g).

 

     

     

    

 

(e) Information Regarding
Purchaser. Purchaser has provided the Company with true, complete, and correct information regarding all applicable items set forth
on Purchaser’s signature page to this Agreement.

 

(f) Placement Agent as Beneficiary.
Purchaser expressly acknowledges and agrees that all representations, warranties, covenants and agreements made or given by the Purchaser
to the Company herein, are also irrevocably made and given for the benefit of the Placement Agent and that the Placement Agent is entitled
to rely on the same in connection with the placement of the Units as if such representations, warranties, covenants and agreements, as
applicable, were made directly to the Placement Agent.

 

(g) Non-Reliance on Placement
Agent. Purchaser understands that the Placement Agent has acted solely as the agent of the Company in this placement of the Units
and not to the Purchaser. Purchaser further acknowledges that (i) the Placement Agent, its affiliates, and their respective representatives
make no representation or warranty with regard to the merits of the offering of the Units or as to the completeness or accuracy of any
information or materials such Purchaser may have received in connection therewith, and Purchaser has not relied and will not rely on any
information, representations or advice furnished by or on behalf of any of the Placement Agent, its affiliates or their respective representatives,
orally or in writing, in making a decision to purchase the Units, (ii) it will be responsible for conducting its own due diligence investigation
with respect to the Company and the offer and sale of the Units, (iii) it will be purchasing Units based on the results of its own due
diligence investigation of the Company and (iv) it has negotiated the offer and sale of the Units directly with the Company, and the Placement
Agent will not be responsible for the ultimate success of any such investment.

 

(h) Purchaser Status. At
the time such Purchaser was offered the Securities, it was, and as of the date hereof is, either (i) an institutional investor as such
term is used in Section 5542(b)(8) of the Uniform Securities Act of 2002 or (ii) a resident of the State of California who, by reason
of his or her business or financial experience has the capacity to protect his or her own interests in connection with the transaction
contemplated by this Agreement and such Purchaser is purchasing the Securities for his or her own account (or a trust account if the Purchaser
is a trustee) and not with a view to or for sale in connection with the distribution of the Securities.

 

ARTICLE III

MISCELLANEOUS

 

3.1 Fees and Expenses.
Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred
by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all
stamp and other taxes and duties levied in connection with the sale of the Units.

 

3.2 Entire Agreement.
This Agreement, together with the annexes, exhibits and schedules thereto, contains the entire understanding of the parties with respect
to the subject matter hereof and supersedes all prior agreements and understandings, oral or written, with respect to such matters, which
the parties acknowledge have been merged into such documents, exhibits and schedules.

 

3.3 Notices. Any and
all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed
given and effective on the earliest of (a) the time of transmission, if such notice or communication is delivered via facsimile or email
attachment at the facsimile number or email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City
time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile
or email address at the facsimile number or email address on the signature pages attached hereto on a day that is not a Trading Day or
later than 6:30 p.m. (New York City time) on any Trading Day, (c) the Trading Day following the date of mailing, if sent by U.S. nationally
recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address
for such notices and communications is set forth on the signature pages attached hereto. For purposes of this Agreement, “Trading
Day” shall mean a day on which the Company’s Common Stock is traded on a national securities exchange or over-the-counter
market, or, if the Company’s Common Stock is not then eligible for trading on a national securities exchange or over-the-counter
market, any day except Saturday, Sunday and any day on which banking institutions in the State of New York are authorized or required
by law or other governmental action to close.

  

     

     

    

 

3.4
Amendments; Waivers. Prior to Closing, no provision of this Agreement may be waived, modified, supplemented or amended except in
a written instrument signed, in the case of an amendment, by the Company and all of the Purchasers. Thereafter, no provision of this Agreement
may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Company and
the Purchasers of at least a majority in interest of the Shares and Warrant Shares underlying Warrants (disregarding for this purpose
any and all limitations of any kind on exercise of any Warrants) purchased by such Purchasers at Closing, in the case of a waiver, by
the party against whom enforcement of any such waived provision is sought, provided that if any amendment, modification or waiver disproportionately
and adversely impacts a Purchaser (or group of Purchasers), the consent of such disproportionately impacted Purchaser (or group of Purchasers)
shall also be required. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed
to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement
hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.
Any proposed amendment or waiver that disproportionately, materially and adversely affects the rights and obligations of any Purchaser
relative to the comparable rights and obligations of the other Purchasers shall require the prior written consent of such adversely affected
Purchaser. Any amendment effected in accordance with this Section 3.4 shall be binding upon each Purchaser and holder of Securities and
the Company.

 

3.5 Construction. The
headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of
the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual
intent, and no rules of strict construction will be applied against any party.

 

3.6 Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. Neither Company
nor Purchaser may assign this Agreement or any rights or obligations hereunder without the prior written consent of the other party.

 

3.7 [Reserved]

 

3.8 Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of New York.

 

3.9 Survival. The representations,
warranties, agreements and covenants contained herein shall survive the Closing and delivery of the Units.

 

3.10 Execution. This
Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that
both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature
shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force
and effect as if such facsimile signature page were an original thereof.

 

3.11 Severability. If
any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining
terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon
a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision
in this Agreement.

 

3.12 Replacement of Securities.
If any certificate or instrument evidencing any of the Securities is mutilated, lost, stolen or destroyed, the Company shall issue or
cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate
or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary
and reasonable indemnity, if requested, but not the posting of any surety or similar bond. The applicants for a new certificate or instrument
under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement certificate.

 

     

     

    

 

3.13 Exculpation of the
Placement Agent. Each of the Company and Purchaser agrees for the express benefit of the Placement Agent, its affiliates and their
respective representatives that:

 

(a) None of the Placement
Agent, its affiliates or their representatives: (i) have any duties or obligations under this Agreement; (ii) shall be liable for any
improper payment made in accordance with this Agreement and the information provided herein by the Company; (iii) make any representation
or warranty, or have any responsibilities as to the validity, accuracy, value or genuineness of any information, certificates or documentation
delivered by or on behalf of the Company pursuant to this Agreement; or (iv) shall be liable (x) for any action taken, suffered or omitted
by any of them in good faith and reasonably believed to be authorized or within the discretion or rights or powers conferred upon it by
this Agreement or (y) for anything which any of them may do or refrain from doing in connection with this Agreement, except for such party’s
own gross negligence or willful misconduct or required by law.

 

(b) The Placement Agent, its
affiliates and their respective representatives shall be entitled to rely on, and shall be protected in acting upon, any certificate,
instrument, opinion, notice, letter or any other document or security delivered to any of them by or on behalf of the Company.

 

3.14. Indemnification of
Placement Agent. The Purchaser agrees to indemnify and hold harmless the Placement Agent, its affiliates and their respective
representatives from and against all losses, liabilities, claims, damages, costs, fees and expenses whatsoever (including, but not limited
to, any and all expenses incurred in investigating, preparing or defending against any litigation commenced or threatened) based upon
or arising out of any improper payment or settlement of the Shares or Warrants made in accordance with this Agreement and the information
provided herein by the Purchaser, except to the extent that any losses, liabilities, claims, damages, costs, fees and expenses or liabilities
(or actions in respect thereof) are found in a final judgment (not subject to appeal) by a court of law to have resulted primarily and
directly from a Placement Agent’s willful misconduct or gross negligence in performaing the services described herein.

 

3.15 Sales During Pre-Settlement
Period. Notwithstanding anything herein to the contrary, if at any time on or after the time of execution of this Agreement by the
Company and an applicable Purchaser, through, and including the time immediately prior to the Closing (the “Pre-Settlement Period”),
such Purchaser sells to any Person all, or any portion, of any Common Stock to be issued hereunder to such Purchaser at the Closing (collectively,
the “Pre-Settlement Shares”), such Purchaser shall, automatically hereunder (without any additional required actions
by such Purchaser or the Company), be deemed to be unconditionally bound to purchase, and the Company shall be deemed unconditionally
bound to sell, such Pre-Settlement Shares to such Purchaser at the Closing; provided, that the Company shall not be required to deliver
any Pre-Settlement Shares to such Purchaser prior to the Company’s receipt of the purchase price of such Pre-Settlement Shares hereunder;
and provided further that the Company hereby acknowledges and agrees that the forgoing shall not constitute a representation or covenant
by such Purchaser as to whether or not during the Pre-Settlement Period such Purchaser shall sell any shares of Common Stock to any Person
and that any such decision to sell any shares of Common Stock by such Purchaser shall solely be made at the time such Purchaser elects
to effect any such sale, if any.

  

(Signature Pages Follow)

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

 

	GREENLANE HOLDINGS, INC.	 
	 	 	 
	By: 	 	 
	Name:	 Nicholas Kovacevich	 
	Title:	 Chief Executive Officer	 

 

Address for Notice:

Greenlane Holdings, Inc.

1095 Broken Sound Parkway, Suite 300

Boca Raton, FL

Attn: Amir Sadr

Email: asadr@greenlane.com

 

 

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

 

Morrison & Foerster LLP

2100 L Street, NW

Washington, D.C. 20037

Attn: Justin R. Salon

Email: JustinSalon@mofo.com

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused this Securities
Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

  

	 	
    Subscription Amount:

     

    $_______________________________

     

	 	 
	 	
    Purchase Price Per Unit: $________________________

     

     

	 	 
	 	 
	 	
    Total Units: _______________________

     

    Shares of Common Stock: _________________

     

    Pre-Funded Warrant Shares (if any): __________________

     

    Standard Warrant Shares: __________________

     

     

	 	 
	 	Please confirm that the foregoing correctly sets forth the agreement between us by signing in the space provided below for that purpose.
	 	 
	 	 
	 	Dated as of: _____________ __, 2022
	 	 
	 	 
	 	____________________________________
	 	PURCHASER
	 	 
	 	By:_______________________________________
	 	Print Name:_________________________________
	 	Title:______________________________________
	 	Address:___________________________________

 

     

     

    

 

Annex I

 

Closing and Delivery of the Units and Funds.

 

	 	1.	Closing.

 

The Purchasers will be notified
in advance by the Placement Agent, in accordance with Rule 15c6-1 promulgated under the Securities Exchange Act of 1934, as amended (the
 “Exchange Act”) of the time and date of the Closing. At the Closing, the Company shall cause EQ Shareowner Services
(the “Transfer Agent”) to deliver to the Purchaser the number of Shares set forth on the signature page to the Agreement
registered in the name of the Purchaser or, if so indicated on the Purchaser Questionnaire attached hereto as Exhibit A-1,
in the name of a nominee designated by the Purchaser and (b) the aggregate purchase price for the Units being purchased by the Purchaser
will be delivered by or on behalf of the Purchaser to the Company.

 

	 	2.	Delivery of Funds.

 

The Purchaser shall settle
the Shares purchased by such Purchaser through DTC’s Deposit/Withdrawal at Custodian (“DWAC”) delivery system
or shall receive the Shares in book-entry format in the name of the beneficial holder. No later than two (2) business day after
the execution of the Agreement by the Purchaser and the Company, the Purchaser shall remit by wire transfer the amount of funds
equal to the aggregate purchase price for the Units being purchased by the Purchaser to the following account designated by the Company
and the Placement Agent:

 

 

ABA # 067016574

Account Name: WAREHOUSE GOODS LLC OPERATING
ACCT

Account Number: 26226498700

 

 

 

	 	3.	Delivery of Units.

 

No
later than two (2) business day after the execution of the Agreement by the Purchaser and the Company, the Purchaser, if
the Shares are to be issued in street name on behalf of the Purchaser, shall direct the broker-dealer at which the account or accounts
to be credited with the Shares being purchased by such Purchaser are maintained, which broker/dealer shall be a DTC participant, to set
up a DWAC instructing the Transfer Agent, to credit such account or accounts with the Shares. Such DWAC instruction shall indicate the
settlement date for the deposit of the Shares, which date shall be provided to the Purchaser by the Placement Agent. Simultaneously with
the delivery to the Company of the funds pursuant to Section 2 above, the Company shall direct the Transfer Agent to
credit the Purchaser’s account or accounts with the Shares pursuant to the information contained in the DWAC.

 

If the Purchaser elects to hold the Shares in the
name of the beneficial holder, the Shares shall be issued in book-entry format. Simultaneously with the delivery to the Company of the
funds pursuant to Section 2 above, the Company shall direct the Transfer Agent to issue the Shares pursuant to the ownership
information provided by the Purchaser.

 

At the Closing, the Company shall cause to be delivered
to the Purchaser a Warrant to purchase a number of whole Warrant Shares determined by multiplying the number of Total Units set forth
on the signature page by the relevant Warrant Ratio and rounding up to the nearest whole number.

 

     

     

    

 

EXHIBIT A-1

 

PURCHASER QUESTIONNAIRE

 

Pursuant to Section 1 of Annex
I to the Agreement, please provide us with the following information:

 

	1.  The exact name that your Shares and Warrants are to be registered in. You may use a nominee name if appropriate:	
     

     

	2.  The relationship between the Purchaser and the registered holder listed in response to item 1 above:	
     

     

	3.  The mailing address of the registered holder listed in response to item 1 above:	
     

     

	4.  The Social Security Number or Tax Identification Number of the registered holder listed in the response to item 1 above:	
     

     

	5.  Name of DTC Participant (broker-dealer at which the account or accounts to be credited with the Units are maintained):	
     

     

	6.  DTC Participant Number:	
     

     

	7.  Name of Account at DTC Participant being credited with the Shares:	
     

     

	8.  Account Number at DTC Participant being credited with the Shares:	
     

     

  

     

     

    

 

Annex II

 

Additional Agreements by the Company.

 

Section
1. Additional Representations and Warranties. Except as set forth in the Company’s public filings under the Exchange
Act, the Company hereby makes the following representations and warranties as of the date hereof and as of the date of the Closing to
the Purchaser:

 

1.1 Litigation. Except as otherwise
disclosed in the Registration Statement, the Time of Sale Prospectus and the Prospectus, there is no action, suit, inquiry, notice of
violation, proceeding or investigation pending, or to the Company’s knowledge, threatened against or affecting the Company, any
of its subsidiaries or any of their respective properties before or by any court, arbitrator, governmental or administrative agency or
regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”), which (i) adversely affects
or challenges the legality, validity or enforceability of any of this Agreement, the Escrow Agreement, the Securities Purchase Agreements
or the Shares or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect.
Neither the Company nor any of its subsidiaries, nor any director or officer thereof, is or has been the subject of any Action involving
a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been,
and there is no pending or, to the Company’s knowledge, contemplated, any investigation by the Commission involving the Company
or any current or former director or officer of the Company. The Commission has not issued any stop order or other order suspending the
effectiveness of any registration statement filed by the Company or any of its subsidiaries under the Exchange Act or the Securities Act.

 

1.2. Transactions With Affiliates and Employees.
Except as described in the Registration Statement, the Time of Sale Prospectus or the Prospectus that have not been described as required,
none of the officers or directors of the Company or any of its subsidiaries and, to the knowledge of the Company, none of the employees
of the Company or any of its subsidiaries is presently a party to any transaction with the Company or any of its subsidiaries (other than
for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing
of services to or by, providing for rental of real or personal property to or from, providing for the borrowing of money from or lending
of money to or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any
entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee, shareholder,
member or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered, (ii)
reimbursement for expenses incurred on behalf of the Company, and (iii) other employee benefits, including stock option agreements under
any stock option plan of the Company.

 

1.3. No Integrated Offering.
Assuming the accuracy of the Purchaser’s representations and warranties set forth in Section 2.2 of the Agreement, neither the
Company, nor any of its affiliates, nor any individual or corporation, partnership, trust, incorporated or unincorporated association,
joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any
kind (a “Person”) acting on its or their behalf has, directly or indirectly, made any offers or sales of any security
or solicited any offers to buy any security, under circumstances that would cause this offering of the Securities to be integrated with
prior offerings by the Company for purposes of any applicable shareholder approval provisions of any Trading Market on which any of the
securities of the Company are listed or quoted. “Trading Market” means any of the following markets or exchanges on
which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq
Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, OTCQB or OTCQX (or any successors to any of the foregoing).

 

Section 2. Additional Covenants of the Company.

 

2.1. Integration. The Company shall
not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security that would be integrated with the
offer or sale of the Securities for purposes of the rules and regulations of any Trading Market such that it would require shareholder
approval prior to the closing of such other transaction unless shareholder approval is obtained before the closing of such subsequent
transaction.

 

     

     

    

 

2.2. Warrant Shares. The Company
shall use best efforts to keep a registration statement (including the Registration Statement) registering the issuance of the Warrant
Shares effective during the term of the Warrants.

 

2.3. Shareholder Rights Plan. No
claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that the Purchaser is an “Acquiring
Person” under any control share acquisition, business combination, poison pill (including any distribution under a rights agreement)
or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company, or that the Purchaser could be deemed to trigger
the provisions of any such plan or arrangement, by virtue of receiving Securities under the Agreement, the Placement Agency Agreement
or Warrant or under any other agreement between the Company and the Purchaser.

 

2.4. Non-Public Information. Except
with respect to the material terms and conditions of the transactions contemplated by the Agreement, the Placement Agency Agreement and
the Warrant, which shall be disclosed pursuant to Section 2.1(g) of the Agreement, neither the Company, nor any other Person
acting on behalf of the Company, will provide any Purchaser or its agents or counsel with any information that constitutes, or the Company
reasonably believes constitutes, material non-public information, unless prior thereto such Purchaser shall have consented to the receipt
of such information and agreed with the Company to keep such information confidential. To the extent that the Company delivers any material,
non-public information to a Purchaser without such Purchaser’s consent, the Company hereby covenants and agrees that such Purchaser
shall not have any duty of confidentiality to the Company, any of its subsidiaries, or any of their respective officers, directors, agents,
employees or affiliates, or a duty to the Company, any of its subsidiaries or any of their respective officers, directors, agents, employees
or affiliates not to trade on the basis of, such material, non-public information, provided that the Purchaser shall remain subject to
applicable law. To the extent that any notice provided pursuant to the Agreement, the Placement Agency Agreement or Warrant constitutes,
or contains, material, non-public information regarding the Company or any of its subsidiaries, the Company shall simultaneously file
such notice with the Commission pursuant to a Current Report on Form 8-K. The Company understands and confirms that each Purchaser shall
be relying on the foregoing covenant in effecting transactions in securities of the Company.

 

2.5.  Indemnification
of Purchasers. Subject to the provisions of this Section 2.5, the Company will indemnify and hold the Purchaser and its directors,
officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person
holding such titles notwithstanding a lack of such title or any other title), each Person who controls the Purchaser (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members, partners
or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such
title or any other title) of such controlling persons (each, a “Purchaser Party”) harmless from any and all losses,
liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court
costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer or incur as a result of
or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in the Agreement
or in the Placement Agency Agreement or Warrant or (b) any action instituted against the Purchaser Parties in any capacity, or any of
them or their respective affiliates, by any shareholder of the Company who is not an Affiliate of such Purchaser Party, with respect to
any of the transactions contemplated by the Agreement, the Placement Agency Agreement or Warrant (except to the extent, but only to the
extent that such action is based upon a breach of such Purchaser Party’s representations, warranties or covenants under the Agreement,
the Placement Agency Agreement or Warrant or any agreements or understandings such Purchaser Party may have with any such shareholder
or any violations by such Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which is finally
judicially determined to constitute fraud, gross negligence, willful misconduct or malfeasance). If any action shall be brought against
any Purchaser Party in respect of which indemnity may be sought pursuant to the Agreement, such Purchaser Party shall promptly notify
the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its own choosing reasonably
acceptable to the Purchaser Party. Any Purchaser Party shall have the right to employ separate counsel in any such action and participate
in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent
that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable
period of time to assume such defense and to employ counsel, or (iii) in such action there is, in the reasonable opinion of counsel, a
material conflict on any material issue between the position of the Company and the position of such Purchaser Party, in which case the
Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company will not be liable
to any Purchaser Party under the Agreement (y) for any settlement by a Purchaser Party effected without the Company’s prior written
consent, which shall not be unreasonably withheld or delayed; or (z) to the extent, but only to the extent that a loss, claim, damage
or liability is attributable to any Purchaser Party’s breach of any of the representations, warranties, covenants or agreements
made by such Purchaser Party in the Agreement, the Placement Agency Agreement or Warrant. The indemnification required by this Section
2.5 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are
received or are incurred. The indemnity agreements contained herein shall be in addition to any cause of action or similar right of any
Purchaser Party against the Company or others and any liabilities the Company may be subject to pursuant to law.

 

     

     

    

 

2.6. Subsequent Equity
Sales.

 

(i)       From
the date hereof until ninety (90) days after the Closing Date, neither the Company nor any subsidiary shall (i) issue, enter into any
agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents or (ii) file
any registration statement or amendment or supplement thereto, other than the Prospectus or filing a registration statement on Form S-8
in connection with any employee benefit plan. “Common Stock Equivalents” means any securities of the Company or the subsidiaries
which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock,
right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles
the holder thereof to receive, Common Stock.

 

(ii)       From
the date hereof until one (1) year following the Closing Date, the Company shall be prohibited from effecting or entering into an agreement
to effect any issuance by the Company or any of its subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units
thereof) involving a Variable Rate Transaction. “Variable Rate Transaction” means a transaction in which the Company (i) issues
or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or include the right to receive additional
shares of Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon and/or varies
with the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity
securities, or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial
issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the
business of the Company or the market for the Common Stock or (ii) enters into, or effects a transaction under, any agreement, including,
but not limited to, an equity line of credit or “at-the-market” offering, whereby the Company may issue securities at a future
determined price. Notwithstanding the foregoing, following the ninety (90) day anniversary of the Closing Date through the one hundred
eighty (180) day anniversary of the Closing Date, the Company may effect sales under an “at-the-market” offering facility,
provided that no sales of shares of Common Stock or Common Stock Equivalents may be below $0.40 per security. Following the one hundred
eighty (180) day anniversary of the Closing Date, the Company may effect sales under an “at-the-market” offering facility
without any pricing restrictions. Any Purchaser shall be entitled to obtain injunctive relief against the Company to preclude any such
issuance, which remedy shall be in addition to any right to collect damages.

 

(iii)       Notwithstanding
the foregoing, this Section 2.6 shall not apply in respect of an Exempt Issuance, except that no Variable Rate Transaction shall be an
Exempt Issuance. “Exempt Issuance” means means the issuance of (a) shares of Common Stock or options to employees, officers,
directors or consultants of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee
members of the board of directors of the Company or a majority of the members of a committee of non-employee directors established for
such purpose for services rendered to the Company, (b) securities upon the exercise or exchange of or conversion of any Securities issued
hereunder, and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on
the date of this Agreement, provided that such securities have not been amended since the date of this Agreement to increase the number
of such securities or to decrease the exercise price, exchange price or conversion price of such securities (other than in connection
with stock splits or combinations) or to extend the term of such securities, and (c) securities issued pursuant to acquisitions or strategic
transactions approved by a majority of the disinterested directors of the Company, provided that such securities are issued as “restricted
securities” (as defined in Rule 144) and carry no registration rights that require or permit the filing of any registration statement
in connection therewith during the prohibition period in Section 2.6(i) herein, and provided that any such issuance shall only be to a
Person (or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating company or an owner of an asset
in a business synergistic with the business of the Company and shall provide to the Company additional benefits in addition to the investment
of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital
or to an entity whose primary business is investing in securities.

 

Section
3. Termination. The Agreement may be terminated by the Purchaser by written notice to the Company and the Placement Agent,
if the Closing has not been consummated on or before July 31, 2022; provided, however, that no such termination
will affect the right of any party to sue for any breach by any other party (or parties).Exhibit 10.2

 

June 27, 2022

 

Greenlane Holdings Inc.

1095 Broken Sound Parkway, Suite 300

Boca Raton, FL 33487

Attn: Chief Accounting Officer

  

Dear Mr. Kovacevich:

 

This letter (the “Agreement”)
constitutes the agreement between A.G.P./Alliance Global Partners, as placement agent (the “Placement Agent”), and
Greenlane Holdings Inc., a company incorporated under the laws of the State of Delaware (the “Company”), that the Placement
Agent shall serve as the placement agent for the Company, on a “reasonable best efforts” basis, in connection with the proposed
placement (the “Placement”) of units, with each unit consisting of a combination of (i) one share (a “Share”
and, collectively, the “Shares”) of the Company’s Class A common stock, par value $0.01 per share (the “Common
Stock”), (ii) one warrant to purchase a share of Common Stock of the Company (the “Common Warrants”), and/or
(iii) pre-funded warrants to purchase one share of Common Stock (the “Pre-Funded Warrants”, and together with the Common
Warrants, the “Warrants,” and collectively with the Shares, the “Securities”), depending on the
beneficial ownership percentage of the purchaser of the Common Stock following its purchase. The Securities shall be offered and sold
under the Company’s registration statement on Form S-3 (File No. 333-257654) (the “Registration Statement”).
The Securities actually placed by the Placement Agent are referred to herein as the “Placement Agent Securities.” The
terms of the Placement shall be mutually agreed upon by the Company and the purchasers (each, a “Purchaser” and collectively,
the “Purchasers”); provided, however, that nothing herein shall obligate the Company to issue any Securities
or complete the Placement. The Company expressly acknowledges and agrees that the Placement Agent’s obligations hereunder are on
a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment by the Placement Agent
to purchase the Securities and does not ensure the successful placement of the Securities or any portion thereof or the success of the
Placement Agent with respect to securing any other financing on behalf of the Company. The Placement Agent may retain other brokers or
dealers to act as sub-agents or selected-dealers on its behalf in connection with the Placement. Certain affiliates of the Placement Agent
may participate in the Placement by purchasing some of the Placement Agent Securities. The sale of Placement Agent Securities to any Purchaser
will be evidenced by a securities purchase agreement (the “Purchase Agreement”) between the Company and such Purchaser,
in a form reasonably acceptable to the Company and the Purchaser. Capitalized terms that are not otherwise defined herein have the meanings
given to such terms in the Purchase Agreement. Prior to the signing of any Purchase Agreement, officers of the Company will be available
to answer inquiries from prospective Purchasers.

 

SECTION
1.      REPRESENTATIONS AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.

 

A.         Representations
of the Company. With respect to the Placement Agent Securities, each of the representations and warranties (together with any related
disclosure schedules thereto) and covenants made by the Company to the Purchasers in the Purchase Agreement in connection with the Placement,
is hereby incorporated herein by reference into this Agreement (as though fully restated herein) and is, as of the date of this Agreement
and as of the Closing Date, hereby made to, and in favor of, the Placement Agent. In addition to the foregoing, the Company represents
and warrants that there are no affiliations with any FINRA member firm among the Company's officers, directors or, to the knowledge of
the Company, any five percent (5.0%) or greater stockholder of the Company, except as set forth in the Purchase Agreement and SEC Reports.

 

B.           Covenants
of the Company. The Company covenants and agrees to continue to retain (i) a firm of independent PCAOB registered public accountants
for a period of at least three (3) years after the Closing Date and (ii) a competent transfer agent with respect to the Placement Agent
Securities for a period of three (3) years after the Closing Date. Furthermore, the Company covenants and agrees that for ninety (90)
days after the closing date of the Placement, the Company shall be restricted from issuing certain securities pursuant to the terms of
Section 2.6 contained in Annex II to the Purchase Agreement.

 

    	 	1	 

     

    

 

SECTION
2.       REPRESENTATIONS OF THE PLACEMENT AGENT. The Placement Agent represents and warrants
that it (i) is a member in good standing of FINRA, (ii) is registered as a broker/dealer under the Exchange Act, (iii) is licensed as
a broker/dealer under the laws of the United States of America, applicable to the offers and sales of the Placement Agent Securities by
the Placement Agent, (iv) is and will be a corporate body validly existing under the laws of its place of incorporation, (v) has full
power and authority to enter into and perform its obligations under this Agreement. The Placement Agent will immediately notify the Company
in writing of any change in its status with respect to subsections (i) through (v) above. The Placement Agent covenants that it will use
its reasonable best efforts to conduct the Placement hereunder in compliance with the provisions of this Agreement and the requirements
of applicable law.  

 

SECTION
3.        COMPENSATION. In consideration of the services to be provided for hereunder,
the Company shall pay to the Placement Agent or its respective designees a total cash fee equal to six percent (6.0%) of the gross proceeds
from the total amount of Placement Agent Securities sold in the Placement (the “Cash Fee”). The Cash Fee shall be paid
on the Closing Date. The Company shall not be required to pay the Placement Agent any fees or expenses except for the Cash Fee and reimbursement
of reasonable legal expenses up to $35,000. The Placement Agent reserves the right to reduce any item of compensation or adjust the terms
thereof as specified herein in the event that a determination shall be made by FINRA to the effect that the Placement Agent’s aggregate
compensation is in excess of FINRA Rules or that the terms thereof require adjustment.

 

SECTION
4.       INDEMNIFICATION.

 

A.           To
the extent permitted by law, with respect to the Placement Agent Securities, the Company will indemnify the Placement Agent and its affiliates,
stockholders, directors, officers, employees, members and controlling persons (within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act) against all losses, claims, damages, expenses and liabilities, as the same are incurred (including
the reasonable fees and expenses of counsel), relating to or arising out of its activities hereunder or pursuant to this Agreement, except
to the extent that any losses, claims, damages, expenses or liabilities (or actions in respect thereof) are found in a final judgment
(not subject to appeal) by a court of law to have resulted primarily and directly from a Placement Agent’s willful misconduct or
gross negligence in performing the services described herein.

 

B.           Promptly
after receipt by the Placement Agent of notice of any claim or the commencement of any action or proceeding with respect to which the
Placement Agent is entitled to indemnity hereunder, the Placement Agent will notify the Company in writing of such claim or of the commencement
of such action or proceeding, but failure to so notify the Company shall not relieve the Company from any obligation it may have hereunder,
except and only to the extent such failure results in the forfeiture by the Company of substantial rights and defenses. If the Company
so elects or is requested by the Placement Agent, the Company will assume the defense of such action or proceeding and will employ counsel
reasonably satisfactory to the Placement Agent and will pay the fees and expenses of such counsel. Notwithstanding the preceding sentence,
the Placement Agent will be entitled to employ its own counsel separate from counsel for the Company and from any other party in such
action if counsel for the Placement Agent reasonably determines that it would be inappropriate under the applicable rules of professional
responsibility for the same counsel to represent both the Company and the Placement Agent. In such event, the reasonable fees and disbursements
of no more than one such separate counsel will be paid by the Company, in addition to fees of local counsel. The Company will have the
right to settle the claim or proceeding, provided that the Company will not settle any such claim, action or proceeding without the prior
written consent of the Placement Agent, which will not be unreasonably withheld.

 

C.           The
Company agrees to notify the Placement Agent promptly of the assertion against it or any other person of any claim or the commencement
of any action or proceeding relating to a transaction contemplated by this Agreement.

 

D.           If
for any reason the foregoing indemnity is unavailable to the Placement Agent or insufficient to hold the Placement Agent harmless, then
the Company shall contribute to the amount paid or payable by the Placement Agent as a result of such losses, claims, damages or liabilities
in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and the Placement
Agent on the other, but also the relative fault of the Company on the one hand and the Placement Agent on the other that resulted in such
losses, claims, damages or liabilities, as well as any relevant equitable considerations. The amounts paid or payable by a party in respect
of losses, claims, damages and liabilities referred to above shall be deemed to include any legal or other fees and expenses incurred
in defending any litigation, proceeding or other action or claim. Notwithstanding the provisions hereof, the liable Placement Agent’s
share of the liability hereunder shall not be in excess of the amount of fees actually received, or to be received, by the Placement Agent
under this Agreement (excluding any amounts received as reimbursement of expenses incurred by the Placement Agent).

 

    	 	2	 

     

    

 

E.           These
indemnification provisions shall remain in full force and effect whether or not the transaction contemplated by this Agreement is completed
and shall survive the termination of this Agreement, and shall be in addition to any liability that the Company might otherwise have to
any indemnified party under this Agreement or otherwise.

 

SECTION
5.       ENGAGEMENT TERM. The Placement Agent’s engagement hereunder will be
until the earlier of (i) July 31, 2022 and (ii) the Closing Date. The date of termination of this Agreement is referred to herein as the
 “Termination Date.” In the event, however, in the course of the Placement Agent’s performance of due diligence
it deems, it necessary to terminate the engagement, the Placement Agent may do so prior to the Termination Date. The Company may elect
to terminate the engagement hereunder for any reason prior to the Termination Date but will remain responsible for fees pursuant to Section
3 hereof with respect to the Placement Agent Securities if sold in the Placement. Notwithstanding anything to the contrary contained herein,
the provisions concerning the Company’s obligation to pay any fees actually earned pursuant to Section 3 hereof and the provisions
concerning confidentiality, indemnification and contribution contained herein will survive any expiration or termination of this Agreement.
If this Agreement is terminated prior to the completion of the Placement, all fees due to the Placement Agent shall be paid by the Company
to the Placement Agent on or before the Termination Date (in the event such fees are earned or owed as of the Termination Date). The Placement
Agent agrees not to use any confidential information concerning the Company provided to the Placement Agent by the Company for any purposes
other than those contemplated under this Agreement.

 

SECTION
6.    COMPANY LOCK-UP AGREEMENTS.

 

A. Restriction on Sales
of Capital Stock. The Company, on behalf of itself and any successor entity, agrees that, without the prior written consent of the
Placement Agent and Purchasers, it will not, for a period beginning on the date of this Agreement and ending on the date that is the 90th
day after the date of this Agreement (the “Lock-Up Period”), (i) offer, pledge, sell, contract to sell, sell any
option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise
transfer or dispose of, directly or indirectly, any shares of capital stock of the Company or any securities convertible into or exercisable
or exchangeable for shares of capital stock of the Company; (ii) file or cause to be filed any registration statement with the Commission
relating to the offering of any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable
for shares of capital stock of the Company; (iii) complete any offering of debt securities of the Company, other than entering into a
line of credit or asset-backed loan with a traditional bank; or (iv) enter into any swap or other arrangement that transfers to another,
in whole or in part, any of the economic consequences of ownership of capital stock of the Company, whether any such transaction described
in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of shares of capital stock of the Company or such other securities,
in cash or otherwise.

 

The restrictions contained
in this Section 6(a) (collectively, the “Restrictions”) shall not apply to (i) the Securities, (ii) the issuance by
the Company of securities of the Company pursuant to any documents, agreements or securities existing or outstanding as of the Closing
Date, provided that such existing or outstanding documents, agreements or securities have not been amended since the date of this Agreement
to increase the number of securities or to decrease the exercise price, exchange price or conversion price of securities (other than in
connection with stock splits or combinations or otherwise in accordance with their terms at the time of the Closing Date) or to extend
the term of such documents, agreements or securities, (iii) the issuance by the Company of any securities of the Company under any equity
compensation plan of the Company for services rendered to the Company; or (iv) the issuance of any securities of the Company in connection
with a merger, joint venture, licensing arrangement or any other similar non-capital raising transaction, provided that any such issuance
shall only be to a Person (or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating company or
an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company additional benefits in
addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the
purpose of raising capital or to an entity whose primary business is investing in securities, provided that in each of (ii) through (iv)
above, the securities shall be restricted from sale during the entire Lock-Up Period.

 

    	 	3	 

     

    

 

B. Restriction on Continuous
Offerings. Notwithstanding the restrictions contained in Section 6(a), the Company, on behalf of itself and any successor entity,
agrees that, without the prior written consent of the Placement Agent, it will not engage, for a period of 90 days after the date of this
Agreement, directly or indirectly in any “at the market” or continuous equity transaction, offer to sell, sell, contract to
sell, grant any option to sell or otherwise dispose of shares of capital stock of the Company or any securities convertible into or exercisable
or exchangeable for shares of capital stock of the Company.

 

SECTION
7.      PLACEMENT AGENT INFORMATION. The Company agrees that any information or advice
rendered by the Placement Agent in connection with this engagement is for the confidential use of the Company only in their evaluation
of the Placement and, except as otherwise required by law, the Company will not disclose or otherwise refer to the advice or information
in any manner without each of the Placement Agent’s prior written consent.

  

SECTION
8.       NO FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not
be construed as creating rights enforceable by any person or entity not a party hereto, except those entitled hereto by virtue of the
indemnification provisions hereof. The Company acknowledges and agrees that the Placement Agent are not and shall not be construed as
a fiduciary of the Company and shall have no duties or liabilities to the equity holders or the creditors of the Company or any other
person by virtue of this Agreement or the retention of the Placement Agent hereunder, all of which are hereby expressly waived.

 

SECTION
9.       CLOSING. The obligations of the Placement Agent, and the closing of the
sale of the Placement Agent Securities hereunder are subject to the accuracy, when made and on the Closing Date, of the representations
and warranties on the part of the Company contained herein and in the Purchase Agreement, to the performance by the Company of its obligations
hereunder, and to each of the following additional terms and conditions, except as otherwise disclosed to and acknowledged and waived
by the Placement Agent:

 

A.           All
corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement,
the Placement Agent Securities, and all other legal matters relating to this Agreement and the transactions contemplated hereby with respect
to the Placement Agent Securities shall be reasonably satisfactory in all material respects to the Placement Agent.

 

B.           The
Placement Agent shall have received from outside counsel to the Company such counsel’s written opinion with respect to the Placement
Agent Securities, addressed to the Placement Agent and the Purchasers and dated as of the Closing Date, in form and substance reasonably
satisfactory to the Placement Agent.

 

C.           The
Common Stock shall be registered under the Exchange Act and, as of the Closing Date, the Placement Agent Securities shall be listed and
admitted and authorized for trading on the Trading Market or other applicable U.S. national exchange and satisfactory evidence of such
action shall have been provided to the Placement Agent. The Company shall have taken no action designed to, or likely to have the effect
of terminating the registration of the Common Stock under the Exchange Act or removing or suspending from trading the Common Stock from
the Trading Market or other applicable U.S. national exchange, nor has the Company received any information suggesting that the Commission
or the Trading Market or other U.S. applicable national exchange is contemplating terminating such registration or listing.

 

D.           No
action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental
agency or body which would, as of the Closing Date, prevent the issuance or sale of the Placement Agent Securities or materially and adversely
affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or order of
any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing Date which would prevent
the issuance or sale of the Placement Agent Securities or materially and adversely affect or potentially and adversely affect the business
or operations of the Company.

 

    	 	4	 

     

    

 

E.           The
Company shall have entered into a Purchase Agreement with each of the Purchasers of the Placement Agent Securities and such agreements
shall be in full force and effect and shall contain representations, warranties and covenants of the Company as agreed upon between the
Company and the Purchasers.

 

F.           FINRA
shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition, the Company
shall, if requested by the Placement Agent, make or authorize Placement Agent’s counsel to make on the Company’s behalf, any
filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 2710, if applicable, with respect to the Placement and pay
all filing fees required in connection therewith.

 

G.    The
Company is an “experienced issuer” as such term is defined in FINRA Rule 5110 and FINRA shall have raised no objection to
the fairness and reasonableness of the terms and arrangements of this Agreement.

 

If any of the conditions specified
in this Section 8 shall not have been fulfilled when and as required by this Agreement, all obligations of the Placement Agent hereunder
may be cancelled by the Placement Agent at, or at any time prior to, the Closing Date. Notice of such cancellation shall be given to the
Company in writing or orally. Any such oral notice shall be confirmed promptly thereafter in writing.

 

SECTION
10.       GOVERNING LAW. This Agreement will be governed by, and construed in accordance
with, the laws of the State of New York applicable to agreements made and to be performed entirely in such State. This Agreement may not
be assigned by either party without the prior written consent of the other party. This Agreement shall be binding upon and inure to the
benefit of the parties hereto, and their respective successors and permitted assigns. Any right to trial by jury with respect to any dispute
arising under this Agreement or any transaction or conduct in connection herewith is waived. Any dispute arising under this Agreement
may be brought into the courts of the State of New York or into the Federal Court located in New York, New York and, by execution and
delivery of this Agreement, the Company hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction
of aforesaid courts. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any
such suit, action or proceeding by delivering a copy thereof via 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 manner permitted by
law. If either party shall commence an action or proceeding to enforce any provisions of this Agreement, then the prevailing party in
such action or proceeding shall be reimbursed by the other party for its attorney's fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such action or proceeding.

  

SECTION
11.     ENTIRE AGREEMENT/MISCELLANEOUS. This Agreement embodies the entire agreement and understanding
between the parties hereto, and supersedes all prior agreements and understandings, relating to the subject matter hereof. If any provision
of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any
other respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended
or otherwise modified or waived except by an instrument in writing signed by the Placement Agent and the Company. The representations,
warranties, agreements and covenants contained herein shall survive the Closing Date of the Placement and delivery of the Placement Agent
Securities. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the
same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or a .pdf format file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such facsimile or .pdf signature page were an original thereof.

 

    	 	5	 

     

    

 

SECTION
12.     NOTICES. Any and all notices or other communications or deliveries required
or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date
of transmission, if such notice or communication is sent to the email address specified on the signature pages attached hereto prior to
6:30 p.m. (New York City time) on a business day, (b) the next business day after the date of transmission, if such notice or communication
is sent to the email address on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York
City time) on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized air
courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and
communications shall be as set forth on the signature pages hereto.

 

SECTION
13.     PRESS ANNOUNCEMENTS. The Company agrees that the Placement Agent shall, on and after
the Closing Date, have the right to reference the Placement and the Placement Agent’s role in connection therewith in the Placement
Agent’s marketing materials and on its website and to place advertisements in financial and other newspapers and journals, in each
case at its own expense.

 

[The remainder of this page
has been intentionally left blank.]

 

    	 	6	 

     

    

 

Please confirm that the foregoing correctly sets
forth our agreement by signing and returning to the Placement Agents the enclosed copy of this Agreement.

 	 	Very truly yours,
	 	 
	 	A.G.P./ALLIANCE GLOBAL PARTNERS
	 	
     

     

	 	By:       	/s/ Thomas Higgins 
	 	 	Name: Thomas Higgins
	 	 	Title:   Managing Director
	 	 
	 	Address for notice:
	 	
    590 Madison Avenue 28th Floor

    New York, New York 10022

    Attn: Thomas Higgins

    Email: thiggins@allianceg.com 

  

[Signature Page to Placement Agency Agreement.]

 

    	 	7	 

     

    

 

Accepted and Agreed to as of

the date first written above:

 

	 	 	 
	GREENLANE HOLDINGS INC.
	
     

     

	By: 	/s/ Nicholas Kovacevich	 
	 	Name: Nicholas Kovacevich	 
	 	Title: Chief Executive Officer	 

 

	 	 	 
	 	Address for notice:	 
	 	
    6261 Katella Ave Ste 250

    Cypress, CA
	 
	 	
    Attn: Chief Executive Officer

    Email: nick@greenlane.com
	 

 

 

[Signature Page to Placement Agency Agreement.]

     

    	 	8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00346-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00346-of-00352.parquet"}]]