Document:

EX-10.39

 Exhibit 10.39 

FORM OF INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT (this “Agreement”) is made as
of            , 20     by and between ECMOHO Limited, an exempted company with limited liability incorporated and existing under the laws of the Cayman Islands (the
“Company”), and            (the “Indemnitee”). 

WHEREAS, the Indemnitee has agreed to serve as a director or executive officer of the Company, and in such capacity will render valuable
services to the Company; and 
 WHEREAS, in order to induce and encourage highly experienced and capable persons such as the Indemnitee to
render valuable services to the Company, the board of directors of the Company (the “Board of Directors”) has determined that this Agreement is not only reasonable and prudent, but necessary to promote and ensure the best interests
of the Company and its shareholders; 
 NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth, and
other good and valuable consideration, including, without limitation, the service of the Indemnitee, the receipt of which hereby is acknowledged, and in order to induce the Indemnitee to render valuable services to the Company, the Company and the
Indemnitee hereby agree as follows: 
 1.    Definitions. As used in this Agreement: 

(a)    “Change in Control” shall mean a change in control of the Company of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar or successor schedule or form) promulgated under the United States Securities Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder (collectively, the “Act”), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be
deemed to have occurred (irrespective of the applicability of the initial clause of this definition) if (i) Ms. Zoe Wang and Mr. Leo Zeng and their permitted transferees cease to be the “beneficial owner” (as defined in Rule
13d-3 under the Act), directly or indirectly, of securities of the Company representing of 50% or more of the combined voting power of the Company’s then outstanding securities; (ii) the Company is a
party to a merger, consolidation, scheme of arrangement, sale of assets or other reorganization, or a proxy contest, as a consequence of which Continuing Directors in office immediately prior to such transaction or event constitute less than a
majority of the Board of Directors (or the board of directors of any successor entity to the Company) thereafter; (iii) during any period of two (2) consecutive years, Continuing Directors cease for any reason to constitute at least a
majority of the Board of Directors; or (iv) the shareholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in one transaction or a series of transactions) all
or substantially all of the Company’s assets. 
 (b)    “Continuing Director” shall mean an
individual (i) who served on the Board of Directors as of the first closing date of the Company’s initial public offering; or (ii) whose election or nomination for election by the Company’s shareholders was approved by a vote of
at least two-thirds of the Continuing Directors then in office. 

(c)    “Disinterested Director” with respect to any request by the Indemnitee for indemnification
or advancement of expenses hereunder shall mean a director of the Company who neither is nor was a party to the Proceeding (as defined below) in respect of which indemnification or advancement is being sought by the Indemnitee. 

 (d)    The term “Expenses” shall mean, without
limitation, expenses of Proceedings, including attorneys’ fees, disbursements and retainers, accounting and witness fees, expenses related to preparation for service as a witness and to service as a witness, travel and deposition costs,
expenses of investigations, judicial or administrative proceedings and appeals, amounts paid in settlement of a Proceeding by or on behalf of the Indemnitee, costs of attachment or similar bonds, any expenses of attempting to establish or
establishing a right to indemnification or advancement of expenses, under this Agreement, the Company’s Memorandum of Association and Articles of Association as currently in effect (the “Articles”), applicable law or otherwise,
and reasonable compensation for time spent by the Indemnitee in connection with the investigation, defense or appeal of a Proceeding or action for the indemnification for which the Indemnitee is not otherwise compensated by the Company or any third
party. The term “Expenses” shall not include the amount of judgments, fines, interest or penalties, which are actually levied against or sustained by the Indemnitee to the extent sustained after final adjudication. 

(e)    The term “Independent Legal Counsel” shall mean any firm of attorneys, or a member of a
firm of attorneys, that is experienced in matters of corporation law and is reasonably selected by the Board of Directors, so long as such firm has not represented the Company, the Company’s subsidiaries or affiliates, the Indemnitee, any
entity controlled by the Indemnitee, or any party adverse to the Company, within the preceding five (5) years, in any matter material to any such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of
other indemnitees under similar indemnification agreements). Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under applicable standards of professional conduct then prevailing, would
have a conflict of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee’s right to indemnification or advancement of expenses under this Agreement, the Company’s Articles, applicable law or
otherwise. 
 (f)    The term “Proceeding” shall mean any threatened, pending or completed
action, cross claim, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, hearing or other proceeding (including, without limitation, an appeal therefrom), formal or informal, whether brought in the name of the Company
or otherwise, whether of a civil, criminal, administrative or investigative nature, and whether by, in or involving a court or an administrative, other governmental or private entity or body (including, without limitation, an investigation by the
Company or the Board of Directors), in which the Indemnitee was, is or will be involved as a party or otherwise, by reason of (i) the fact that the Indemnitee is or was a director (or a director appointee) or executive officer of the Company,
or is or was serving at the request of the Company as an agent of another enterprise (as defined below), (ii) any actual or alleged act or omission or neglect or breach of duty, including, without limitation, any actual or alleged error or
misstatement or misleading statement, which the Indemnitee commits or suffers while acting in any such capacity, or (iii) the Indemnitee attempting to establish or establishing a right to indemnification or advancement of expenses pursuant to
this Agreement, the Company’s Articles, applicable law or otherwise, in each case whether or not the Indemnitee is serving in such capacity at the time any liability or expense is incurred for which indemnification or reimbursement is to be
provided under this Agreement. 
 (g)    The phrase “serving at the request of the Company as an agent of
another enterprise” or any similar terminology shall mean, unless the context otherwise requires, serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, limited
liability company, trust, employee benefit or welfare plan or other enterprise, foreign or domestic. The phrase “serving at the request of the Company” shall include, without limitation, any service as a director and/or an executive
officer of the Company which imposes duties on, or involves services by, such director/executive officer with respect to the Company or any of the Company’s subsidiaries, affiliates, employee benefit or welfare plans, such plan’s
participants or beneficiaries or any other enterprise, foreign or domestic. In the event that the Indemnitee shall be a director, officer, employee or agent of another corporation, partnership, joint venture, limited liability company, trust,
employee benefit or welfare plan or other enterprise, foreign or domestic, 50% or more of the ordinary shares, combined voting power or total equity interest of which is owned by the Company or any subsidiary or affiliate thereof, then it shall be
presumed conclusively that the Indemnitee is so acting at the request of the Company. 

  
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 2.    Services by the Indemnitee. [For non-executive directors: The Indemnitee agrees to serve as a director of the Company for so long as the Indemnitee is duly elected or appointed or until such time as the Indemnitee tenders a resignation in
writing or is removed as a director; provided, however, that the Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or other obligation imposed on the Indemnitee by operation of
law).][For executive officers: The Indemnitee agrees to serve as an executive officer of the Company under the terms of the Indemnitee’s agreement with the Company until such time as the Indemnitee’s employment is terminated
for any reason.] 
 3.    Proceedings by or in the Right of the Company. The Company shall indemnify the
Indemnitee if the Indemnitee is a party to or threatened to be made a party to or is otherwise involved in any Proceeding by or in the right of the Company to procure a judgment in its favor, against all Expenses, judgments, fines, interest or
penalties, which are actually and reasonably incurred by the Indemnitee in connection with the defense or settlement of such a Proceeding, to the fullest extent permitted by applicable law, if the Indemnitee acted in good faith and in a manner the
Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company; except that no indemnification under this section shall be made in respect of any claim, issue or matter as to which the Indemnitee shall have been
adjudicated by final judgment by a court of competent jurisdiction to be liable to the Company for dishonesty, willful default or fraud in the performance of his/her duty to the Company, unless and only to the extent that the court in which such
Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such amounts which such other
court shall deem proper. 
 4.    Proceeding Other Than a Proceeding by or in the Right of the Company.
The Company shall indemnify the Indemnitee if the Indemnitee is a party to or threatened to be made a party to or is otherwise involved in any Proceeding (other than a Proceeding by or in the right of the Company), against all Expenses, judgments,
fines, interest or penalties, which are actually and reasonably incurred by the Indemnitee in connection with such a Proceeding, to the fullest extent permitted by applicable law; provided, however, that any settlement of a Proceeding must be
approved in advance in writing by the Company (which approval shall not be unreasonably withheld); and provided further that Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that Indemnitee’s conduct was unlawful. 

5.    Indemnification for Costs, Charges and Expenses of Witness or Successful Party. Notwithstanding any
other provision of this Agreement (except as set forth in subparagraph 9(a) hereof), and without a requirement for determination as required by Paragraph 8 hereof, to the extent that the Indemnitee (a) has prepared to serve or has served as a
witness in any Proceeding in any way relating to (i) the Company or any of the Company’s subsidiaries, affiliates, employee benefit or welfare plans or such plan’s participants or beneficiaries or (ii) anything done or not done
by the Indemnitee as a director or executive officer of the Company or in connection with serving at the request of the Company as an agent of another enterprise, or (b) has been successful in defense of any Proceeding or in defense of any
claim, issue or matter therein, on the merits or otherwise, including the dismissal of a Proceeding without prejudice or the settlement of a Proceeding without an admission of liability, the Indemnitee shall be indemnified against all Expenses
actually and reasonably incurred by the Indemnitee in connection therewith to the fullest extent permitted by applicable law. 

  
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 6.    Partial Indemnification. If the Indemnitee is
entitled under any provision of this Agreement to indemnification by the Company for a portion of the Expenses, judgments, fines, interest or penalties, which are actually and reasonably incurred by the Indemnitee in the investigation, defense,
appeal or settlement of any Proceeding, but not, however, for the total amount of the Indemnitee’s Expenses, judgments, fines, interest or penalties, then the Company shall nevertheless indemnify the Indemnitee for all Expenses, judgments,
fines, interest or penalties reasonably incurred by the Indemnitee or on the Indemnitee’s behalf in connection therewith. 

7.    Advancement of Expenses. The Expenses incurred by the Indemnitee in any Proceeding (or any part of any
Proceeding) not initiated by the Indemnitee or any Proceeding initiated by the Indemnitee with the prior approval of the Board of Directors shall be paid promptly by the Company in advance of the final disposition of the Proceeding at the written
request of the Indemnitee, to the fullest extent permitted by applicable law; provided, however, that the Indemnitee shall set forth in such request reasonable evidence that such Expenses have been incurred by the Indemnitee in connection with such
Proceeding, a statement that such Expenses do not relate to any matter described in subparagraph 9(a) of this Agreement, and an undertaking in writing to repay any advances if it is ultimately determined as provided in subparagraph 8(b) of this
Agreement that the Indemnitee is not entitled to indemnification under this Agreement. Advances shall be unsecured and interest free. Advances shall be made without regard to the Indemnitee’s ability to repay the Expenses and without regard to
the Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. 

8.    Indemnification Procedure; Determination of Right to Indemnification. 

(a)    Promptly after receipt by the Indemnitee of notice of the commencement of any Proceeding, the Indemnitee
shall, if a claim for indemnification or advancement of Expenses in respect thereof is to be made against the Company under this Agreement, notify the Company of the commencement thereof in a written request, including therein or therewith such
documentation and information as is reasonably available to the Indemnitee and is reasonably necessary to determine whether and to what extent the Indemnitee is entitled to indemnification. The failure and delay to so notify the Company will not
relieve the Company from any liability which the Company may have to the Indemnitee under this Agreement unless the Company shall have lost significant substantive or procedural rights with respect to the defense of any Proceeding as a result of
such omission to so notify. 
 (b)    The Indemnitee shall be conclusively presumed to have met the relevant
standards of conduct, if any, as defined by applicable law, for indemnification pursuant to this Agreement and shall be absolutely entitled to such indemnification, unless a determination is made that the Indemnitee has not met such standards by
(i) the Board of Directors by a majority vote of a quorum thereof consisting of Disinterested Directors, (ii) by a majority vote of a committee of Disinterested Directors designated by a majority vote of Disinterested Directors, even
though less than a quorum of the Board of Directors, (iii) the shareholders of the Company by majority vote of a quorum thereof consisting of shareholders who are not parties to the Proceeding due to which a claim for indemnification is made
under this Agreement, (iv) Independent Legal Counsel as set forth in a written opinion (it being understood that such Independent Legal Counsel shall make such determination only if the quorum or committee of Disinterested Directors referred to
in clauses (i) and (ii) of this subparagraph 8(b) are not obtainable or if the Board of Directors of the Company by a majority vote of a quorum thereof consisting of Disinterested Directors so directs), or (v) a court of competent
jurisdiction; provided, however, that if a Change in Control shall have occurred and the Indemnitee so requests in writing, such determination shall be made only by a court of competent jurisdiction or Independent Legal Counsel as set forth in a
written opinion. 

  
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 (c)    In the event the determination of entitlement to
indemnification is to be made by Independent Legal Counsel pursuant to Section 8(b) hereof, the Independent Legal Counsel shall be selected as provided in this Section 8(c). If a Change in Control shall not have occurred, the Independent
Legal Counsel shall be selected by the Board of Directors, and the Company shall give written notice to the Indemnitee advising Indemnitee of the identity of the Independent Legal Counsel so selected. If a Change in Control shall have occurred, the
Independent Legal Counsel shall be selected by the Indemnitee (unless the Indemnitee shall request that such selection be made by the Board of Directors, in which event the preceding sentence shall apply), and the Indemnitee shall give written
notice to the Company advising it of the identity of the Independent Legal Counsel so selected. In either event, the Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been
given, deliver to the Company or to the Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Legal Counsel so selected does not meet the
requirements of “Independent Legal Counsel” as defined in Section 1 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so
selected shall act as Independent Legal Counsel. If such written objection is so made and substantiated, the Independent Legal Counsel so selected may not serve as Independent Legal Counsel unless and until such objection is withdrawn or a court of
competent jurisdiction has determined that such objection is without merit. If, within twenty (20) days after the later of submission by the Indemnitee of a written request for indemnification pursuant to Section 11(a) hereof and the final
disposition of the Proceeding, no Independent Legal Counsel shall have been selected and not objected to, either the Company or the Indemnitee may petition the court of competent jurisdiction for resolution of any objection which shall have been
made by the Company or the Indemnitee to the other’s selection of Independent Legal Counsel and/or for the appointment as Independent Legal Counsel of a person selected by such court or by such other person as such court shall designate, and
the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Legal Counsel under Section 12(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to
Section 14(a) of this Agreement, Independent Legal Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). 

(d)    If a claim for indemnification or advancement of Expenses under this Agreement is not paid by the Company
within thirty (30) days after receipt by the Company of written notice thereof, the rights provided by this Agreement shall be enforceable by the Indemnitee in any court of competent jurisdiction. Such judicial proceeding shall be made de novo.
The burden of proving that indemnification or advances are not appropriate shall be on the Company. Neither the failure of the directors or shareholders of the Company or Independent Legal Counsel to have made a determination prior to the
commencement of such action that indemnification or advancement of Expenses is proper in the circumstances because the Indemnitee has met the applicable standard of conduct, if any, nor an actual determination by the directors or shareholders of the
Company or Independent Legal Counsel that the Indemnitee has not met the applicable standard of conduct shall be a defense to an action by the Indemnitee or create a presumption for the purpose of such an action that the Indemnitee has not met the
applicable standard of conduct. The termination of any Proceeding by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself (i) create a presumption that the Indemnitee did
not act in good faith and in a manner which he reasonably believed to be in the best interests of the Company and/or its shareholders, and, with respect to any criminal Proceeding, that the Indemnitee had reasonable cause to believe that his conduct
was unlawful or (ii) otherwise adversely affect the rights of the Indemnitee to indemnification or advancement of Expenses under this Agreement, except as may be provided herein. 

(e)    If a court of competent jurisdiction shall determine that the Indemnitee is entitled to any indemnification
or advancement of Expenses hereunder, the Company shall pay all Expenses actually and reasonably incurred by the Indemnitee in connection with such adjudication (including, but not limited to, any appellate proceedings). 

  
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 (f)    With respect to any Proceeding for which indemnification
or advancement of Expenses is requested, the Company will be entitled to participate therein at its own expense and, except as otherwise provided below, to the extent that it may wish, the Company may assume the defense thereof, with counsel
reasonably satisfactory to the Indemnitee. After notice from the Company to the Indemnitee of its election to assume the defense of a Proceeding, the Company will not be liable to the Indemnitee under this Agreement for any Expenses subsequently
incurred by the Indemnitee in connection with the defense thereof, other than as provided below. The Company shall not settle any Proceeding in any manner which would impose any penalty or limitation on the Indemnitee without the Indemnitee’s
written consent. The Indemnitee shall have the right to employ his/her own counsel in any Proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense of the Proceeding shall be at the
expense of the Indemnitee, unless (i) the employment of counsel by the Indemnitee has been authorized by the Company, (ii) the Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and the
Indemnitee in the conduct of the defense of a Proceeding, or (iii) the Company shall not in fact have employed counsel to assume the defense of a proceeding, in each of which cases the fees and expenses of the Indemnitee’s counsel shall be
advanced by the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company or as to which the Indemnitee has reasonably concluded that there may be a conflict of interest between the
Company and the Indemnitee. 
 9.    Limitations on Indemnification. No payments pursuant to this
Agreement shall be made by the Company: 
 (a)    To indemnify or advance funds to the Indemnitee for Expenses
with respect to (i) Proceedings initiated or brought voluntarily by the Indemnitee and not by way of defense, except with respect to Proceedings brought to establish or enforce a right to indemnification under this Agreement or any other
statute or law or otherwise as required under applicable law or (ii) Expenses incurred by the Indemnitee in connection with preparing to serve or serving as a witness in cooperation with any party or entity who or which has threatened or
commenced any action or proceeding against the Company, or any director, officer, employee, trustee, agent, representative, subsidiary, parent corporation or affiliate of the Company, but such indemnification or advancement of Expenses in each such
case may be provided by the Company if the Board of Directors finds it to be appropriate; 
 (b)    To indemnify
the Indemnitee for any Expenses, judgments, fines, interest or penalties sustained in any Proceeding for which payment is actually made to the Indemnitee under a valid and collectible insurance policy or other indemnity provision, except in respect
of any excess beyond the amount of payment under such insurance or indemnity provision; 
 (c)    To indemnify
the Indemnitee for any Expenses, judgments, fines, interest or penalties sustained in any Proceeding for an accounting of profits (or for the actual accounting of such profits) made from the purchase or sale by the Indemnitee of securities of the
Company pursuant to the provisions of Section 16(b) of the Act or similar provisions of any foreign or United States federal, state or local statute or regulation; 

(d)    To indemnify the Indemnitee for any Expenses, judgments, fines, interest or penalties for which the
Indemnitee is indemnified by the Company otherwise than pursuant to this Agreement; 

  
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 (e)    To indemnify the Indemnitee for any Expenses (including
without limitation any Expenses relating to a Proceeding attempting to enforce this Agreement), judgments, fines, interest or penalties on account of the Indemnitee’s conduct if such conduct shall be finally adjudged to have been knowingly
fraudulent or deliberately dishonest or to have constituted willful misconduct, including, without limitation, breach of the duty of loyalty; 

(f)    If a court of competent jurisdiction finally determines that any indemnification hereunder is unlawful. In
this respect, the Company and the Indemnitee have been advised that the Securities and Exchange Commission takes the position that indemnification for liabilities arising under securities laws is against public policy and is, therefore,
unenforceable; 
 (g)    To indemnify the Indemnitee in connection with the Indemnitee’s personal tax
matter; 
 (h)    To indemnify the Indemnitee with respect to any claim related to any dispute or breach arising
under any contract or similar obligation between the Company or any of its subsidiaries or affiliates and such Indemnitee; 

(i)    To indemnify the Indemnitee with respect to any reimbursement to the Company pursuant to Section 304 of
the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), Section 306 of the Sarbanes-Oxley Act or Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules promulgated by the SEC
thereunder; or 
 (j)    To indemnify the Indemnitee with regards to any reimbursement of the Company by the
Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board of Directors or any committee thereof, including but not limited to any such policy adopted to comply with stock exchange listing
requirements implementing Section 10D of the Act. 
 10.    No Employment Rights. Nothing in this
Agreement is intended to create in the Indemnitee any right to continued employment with the Company. 

11.    Continuation of Indemnification. All agreements and obligations of the Company contained herein shall
continue during the period that the Indemnitee is a director or executive officer of the Company (or is or was serving at the request of the Company as an agent of another enterprise, foreign or domestic) and shall continue thereafter so long as the
Indemnitee shall be subject to any possible Proceeding by reason of the fact that the Indemnitee was a director or executive officer of the Company or serving in any other capacity referred to in this Paragraph 11. 

12.    Indemnification Hereunder Not Exclusive. The indemnification provided by this Agreement shall not be
deemed to be exclusive of any other rights to which the Indemnitee may be entitled under the Company’s Articles, any agreement, vote of shareholders or vote of Disinterested Directors, provisions of applicable law, or otherwise, both as to
action or omission in the Indemnitee’s official capacity and as to action or omission in another capacity on behalf of the Company while holding such office. 

13.    Successors and Assigns. 

(a)    This Agreement shall be binding upon the Indemnitee, and shall inure to the benefit of, the Indemnitee and
the Indemnitee’s heirs, executors, administrators and assigns, whether or not the Indemnitee has ceased to be a director or executive officer, and the Company and its successors and assigns. Upon the sale of all or substantially all of the
business, assets or share capital of the Company to, or upon the merger of the Company into or with, any corporation, partnership, joint venture, trust or other person, this Agreement shall inure to the benefit of and be binding upon both the
Indemnitee and such purchaser or successor person. Subject to the foregoing, this Agreement may not be assigned by either party without the prior written consent of the other party hereto. 

  
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 (b)    If the Indemnitee is deceased and is entitled to
indemnification under any provision of this Agreement, the Company shall indemnify the Indemnitee’s estate and the Indemnitee’s spouse, heirs, executors, administrators and assigns against, and the Company shall, and does hereby agree to
assume, any and all Expenses actually and reasonably incurred by or for the Indemnitee or the Indemnitee’s estate, in connection with the investigation, defense, appeal or settlement of any Proceeding. Further, when requested in writing by the
spouse of the Indemnitee, and/or the Indemnitee’s heirs, executors, administrators and assigns, the Company shall provide appropriate evidence of the Company’s agreement set out herein to indemnify the Indemnitee against and to itself
assume such Expenses. 
 14.    Subrogation. In the event of payment under this Agreement, the Company
shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company effectively to
bring suit to enforce such rights. 
 15.    Severability. Each and every paragraph, sentence, term and
provision of this Agreement is separate and distinct so that if any paragraph, sentence, term or provision thereof shall be held to be invalid, unlawful or unenforceable for any reason, such invalidity, unlawfulness or unenforceability shall not
affect the validity, unlawfulness or enforceability of any other paragraph, sentence, term or provision hereof. To the extent required, any paragraph, sentence, term or provision of this Agreement may be modified by a court of competent jurisdiction
to preserve its validity and to provide the Indemnitee with the broadest possible indemnification permitted under applicable law. The Company’s inability, pursuant to a court order or decision, to perform its obligations under this Agreement
shall not constitute a breach of this Agreement. If this Agreement or any paragraph, sentence, term or provision hereof is invalidated on any ground by any court of competent jurisdiction, the Company shall nevertheless indemnify the Indemnitee as
to any Expenses, judgments, fines, interest or penalties, which are incurred with respect to any Proceeding to the fullest extent permitted by any (a) applicable paragraph, sentence, term or provision of this Agreement that has not been
invalidated or (b) applicable law. 
 16.    Interpretation; Governing Law. This Agreement shall be
construed as a whole and in accordance with its fair meaning and any ambiguities shall not be construed for or against either party. Headings are for convenience only and shall not be used in construing meaning. This Agreement shall be governed and
interpreted in accordance with the laws of Hong Kong, without regard to the conflict of laws principles thereof. 

17.    Amendments. No amendment, waiver, modification, termination or cancellation of this Agreement shall
be effective unless in writing signed by the party against whom enforcement is sought. The indemnification rights afforded to the Indemnitee hereby are contract rights and may not be diminished, eliminated or otherwise affected by amendments to the
Company’s Articles, or by other agreements, including directors’ and officers’ liability insurance policies, of the Company. 

18.    Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be
considered one and the same agreement and shall become effective when one or more counterparts have been signed by each party and delivered to the other. 

19.    Notices. Any notice required to be given under this Agreement shall be directed to the Chief
Financial Officer of the Company at 3F, 1000 Tianyaoqiao Road, Xuhui District, Shanghai 200030, The People’s Republic of China, and to the Indemnitee at the address on file with the Company, or to such other address as either shall
designate to the other in writing. 

  
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 20.    Entire Agreement. This Agreement constitutes
the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof. 

[The remainder of this page is intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the parties have executed this Indemnification Agreement as of the date
first written above. 
  

			
	INDEMNITEE 
	
	  

	Name:

 
			
	
	ECMOHO Limited
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Indemnification Agreement] 

  
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 FORM OF EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
             , 2019 by and between ECMOHO Limited, an exempted company incorporated and existing under the laws of the Cayman Islands (the “Company”) and
                , an individual (the “Executive”). 

RECITALS 
 WHEREAS, the
Company desires to employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below) and under the terms and conditions of the Agreement; 

WHEREAS, the Executive desires to be employed by the Company during the term of Employment and under the terms and conditions of the
Agreement; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, the Company and the
Executive agree as follows: 
 AGREEMENT 
  

	1.	 EMPLOYMENT 

The Company hereby agrees to employ the Executive and the Executive hereby accepts such employment, on the terms and conditions hereinafter set
forth (the “Employment”). 
  

	2.	 TERM 

Subject to the terms and conditions of the Agreement, the initial term of the Employment shall be
             years, commencing on             , 2019 (the “Effective Date”) and ending on
            , 20     (the “Initial Term”), unless terminated earlier pursuant to the terms of the Agreement. Upon expiration of the Initial Term, the
Employment shall be automatically extended for successive periods of 12 months each (each, an “Extension Period”) unless either party shall have given 60 days advance written notice of nonrenewal to the other party, in the manner
set forth in Section 19 below, prior to the end of the Initial Term or the Extension Period in question, that the term of this Agreement that is in effect at the time such written notice is given is not to be extended or further extended, as
the case may be (the period during which this Agreement is effective being referred to hereafter as the “Term”). 
  

	3.	 POSITION AND DUTIES 

 

	 	(a)	 During the Term, the Executive shall serve as
                 of the Company or in such other position or positions with a level of duties and responsibilities consistent with the foregoing, which the Company
and/or its subsidiaries and affiliates (collectively, the “Group”) and the Board of Directors of the Company (the “Board”) may specify from time to time, and shall have the duties, responsibilities and obligations
customarily assigned to individuals serving in the position or positions in which the Executive serves hereunder and as assigned by the Board, or if authorized by the Board, by the Company’s Chief Executive Officer. 

	 	(b)	 The Executive agrees to serve without additional compensation, if elected or appointed thereto, as a director
of the Company or any member of the Group and as a member of any committees of the board of directors of any such entity, provided that the Executive is indemnified for serving in any and all such capacities on a basis no less favorable than is
currently provided to any other director of any member of the Group. 

  

	 	(c)	 The Executive agrees to devote all of his or her working time and efforts to the performance of his or her
duties for the Company and to faithfully and diligently serve the Company in accordance with the Agreement and the guidelines, policies and procedures of the Company approved from time to time by the Board. Without the consent of the Board, during
the Term, the Executive will not serve on the board of directors, trustees or any similar governing body of any for-profit entity (with the exception of any entity which has been disclosed to the Company on a
list provided to the Company by the Executive coincident with the execution of this Agreement). Notwithstanding the above, the Executive will be permitted, to the extent such activities do not interfere with the performance by the Executive of his
or her duties and responsibilities hereunder or violate Section 8(a), (b), or (c) of this Agreement, to (i) manage the Executive’s (and his or her immediate family’s) personal, financial and legal affairs, and
(ii) serve, with the prior approval of the Board, on civic or charitable boards or committees (it being expressly understood and agreed that the Executive’s continuing to serve on the boards and/or committees on which the Executive is
serving, or with which the Executive is otherwise associated, as of the Effective Date (each of which has been disclosed to the Company on a list provided to the Company by the Executive coincident with the execution of this Agreement), will be
deemed not to interfere with the performance by the Executive of his or her duties and responsibilities under this Agreement). 

  

	4.	 NO BREACH OF CONTRACT 

The Executive hereby represents to the Company that: (i) the execution and delivery of the Agreement by the Executive and the performance
by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or by which the Executive is otherwise bound, other
than with respect to agreements required to be entered into by and between the Executive and any member of the Group pursuant to the applicable law of the jurisdiction in which the Executive is based, if any; (ii) that the Executive is not in
possession of any information (including, without limitation, confidential information and trade secrets) the knowledge of which would prevent the Executive from freely entering into the Agreement and carrying out his or her duties hereunder; and
(iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement with any person or entity other than any member of the Group. 
  

	5.	 LOCATION 

The Executive will be based in              , China or any other location as
mutually agreed by the parties during the Term. 

  
 -2- 

	6.	 COMPENSATION AND BENEFITS 

 

	 	(a)	 Cash Compensation. As compensation for the performance by the Executive of his or her obligations
hereunder, during the Term, the Company shall pay the Executive a base salary (inclusive of the statutory benefit contributions that the Company is required to set aside for the Executive under applicable law) pursuant to Schedule A hereto,
subject to annual review and adjustment by the Board or any committee designated by the Board. 

  

	 	(b)	 Long-Term Incentives. During the Term, the Executive shall be eligible to participate in such long-term
compensation arrangements as may be authorized from time to time by the Board, including any equity incentive plan the Company may adopt from time to time at a level determined by the Board in its sole discretion. 

 

	 	(c)	 Benefits. During the Term, the Executive shall be entitled to participate in all of the employee benefit
plans and arrangements made available by the Company to its similarly situated executives as in effect from time to time, including, but not limited to, any retirement plan, medical insurance plan and travel/holiday policy, subject to and on a basis
consistent with the terms, conditions and overall administration of such plans and arrangements. 

  

	7.	 TERMINATION OF THE AGREEMENT 

The Employment may be terminated as follows: 
  

	 	(a)	 Death. The Employment shall automatically terminate upon the Executive’s death.

  

	 	(b)	 Disability. The Employment shall terminate if the Executive has a disability, including any physical or
mental impairment which, as reasonably determined by the Board, renders the Executive substantially unable to perform the essential functions of his or her position at the Company, even with reasonable accommodation that does not impose an undue
burden on the Company, for more than 180 days in any 12-month period, unless a longer period is required by applicable law, in which case that longer period shall apply. 

 

	 	(c)	 For Cause. The Company may terminate the Executive’s employment hereunder for cause without notice.
The occurrence of any of the following, as reasonably determined by the Company, shall be a reason for cause (“Cause”), provided that, if the Board determines that the circumstances constituting Cause are curable, then such
circumstances shall not constitute Cause unless and until the Executive has been informed by the Company of the existence of Cause and given an opportunity of ten business days to cure, and such Cause remains uncured (as determined by the Board in
its sole discretion) at the end of such ten-business day period: 

  

	 	(1)	 continued failure by the Executive to satisfactorily perform his or her duties hereunder (other than such
failure resulting from the Executive’s incapacity due to physical or mental illness) after written notice is delivered by the Company to the Executive that sets forth in reasonable detail the basis of the Executive’s failure to perform the
Executive’s duties hereunder; 

  
 -3- 

	 	(2)	 willful misconduct or gross negligence by the Executive in the performance of his or her duties hereunder,
including insubordination; 

  

	 	(3)	 the Executive’s conviction or entry of a guilty or nolo contendere plea of any felony or any misdemeanor
involving moral turpitude; 

  

	 	(4)	 the Executive’s material violation of any Company policy applicable to the Executive;

  

	 	(5)	 the Executive’s commission of any act involving dishonesty that results in material financial,
reputational or other harm, monetary or otherwise, to any member of the Group, including but not limited to an act constituting misappropriation or embezzlement of the property of any member of the Group as determined in good faith by the Board;

  

	 	(6)	 any material or persistent breach by the Executive of this Agreement; 

 

	 	(7)	 the Executive being convicted of any criminal conduct; or 

 

	 	(8)	 the Executive engaging in any conduct which may make the continued employment of such officer detrimental to
our company. 

  

	 	(d)	 By the Executive. The Executive may terminate the Executive’s employment voluntarily for any reason
or no reason at any time by giving 60 days’ prior written notice to the Company. 

  

	 	(e)	 Without Cause by the Company. The Company may terminate the Executive’s employment hereunder at any
time without Cause upon 60 days’ prior written notice to the Executive. 

  

	 	(f)	 Notice of Termination. Any termination of the Executive’s employment under the Agreement (other
than a termination due to the Executive’s death) shall be communicated by a written notice of termination (“Notice of Termination”) from the terminating party to the other party. The notice of termination shall indicate the
specific provision(s) of the Agreement relied upon in effecting the termination. 

  

	 	(g)	 Date of Termination. The “Date of Termination” shall mean (i) if the
Executive’s employment is terminated by the Executive’s death, the date of his or her death, (ii) if the Executive’s employment is terminated due to the Executive’s disability or by the Company for Cause, the date specified
in the Notice of Termination, (iii) if the Executive’s employment is terminated by the Executive, the sixtieth day following the date on which the Notice of Termination is given and (iv) if the Executive’s employment is
terminated by the Company other than for Cause, the sixtieth day following the date on which the Notice of Termination is given; provided, however, that if the Executive’s employment is terminated by the Executive, the Company will have the
right to accelerate such notice and make the Date of Termination the date of receipt of the Notice of Termination or such other date prior to the intended Date of Termination as the Company deems appropriate, which acceleration will in no event be
deemed a termination by the Company without Cause. 

  
 -4- 

	 	(h)	 Removal from any Boards and Position. On the Date of Termination, the Executive will be deemed to resign
(i) from the board of directors of any subsidiary or affiliate of the Company and/or any other board to which he or she has been appointed or nominated by or on behalf of the Company (including the Board), and (ii) from any position with
the Company or any of its subsidiaries or any of its affiliates, including, but not limited to, as an officer and director of the Company and any of its subsidiaries. 

 

	 	(i)	 Compensation upon Termination. This Section provides the payments and benefits to be paid or provided to
the Executive as a result of his or her termination of employment. Except as provided in this Section 7(i), the Executive will not be entitled to any payments or benefits from the Company as a result of the termination of his or her employment,
regardless of the reason for such termination. 

  

	 	(1)	 Death or Disability. If the Executive’s employment is terminated by reason of the Executive’s
death or disability, the Company shall have no further obligations to the Executive under this Agreement, other than as provided in Section 7(i)(4) below. 

 

	 	(2)	 By Company without Cause. If the Executive’s employment is terminated by the Company other than for
Cause, the Company shall continue to pay and otherwise provide to the Executive, during the period beginning on the date of receipt of the Notice of Termination and ending on the Date of Termination, all compensation, base salary and previously
earned but unpaid incentive compensation, if any, and shall continue to allow the Executive to participate in any benefit plans in accordance with the terms of such plans during such notice period. 

 

	 	(3)	 By Company for Cause or by the Executive. If the Executive’s employment is terminated by the
Company for Cause or by the Executive, the Company shall have no further obligations to the Executive under this Agreement, other than as provided in Section 7(i)(4) below. 

 

	 	(4)	 Compensation Upon any Termination. Following any termination of the Executive’s employment, the
Company shall pay the Executive all amounts, if any, to which the Executive is entitled as of the Date of Termination under any retirement, compensation, insurance plan or other benefit plan or program of the Company, at the time such payments are
due in accordance with the terms of such plans or programs (including the Executive’s base salary at the rate in effect through the Date of Termination). 

 

	 	(j)	 Return of Company Property. The Executive agrees that following the termination of the Executive’s
employment for any reason, or at any time prior to the Executive’s termination upon the request of the Company, he or she shall return all property of the Group, which is then in or thereafter comes into his or her possession, including, but
not limited to, any Confidential Information (as defined below) or Intellectual Property (as defined below), or any other documents, contracts, agreements, plans, photographs, projections, books, notes, records, electronically stored data and all
copies, excerpts or summaries of the foregoing, as well as any automobile or other materials or equipment supplied by the Group to the Executive, if any. 

  
 -5- 

	8.	 CONFIDENTIALITY AND NON-DISCLOSURE 

 

	 	(a)	 Confidentiality and Non-Disclosure. 

 

	 	(1)	 The Executive acknowledges and agrees that: (A) the Executive holds a position of trust and confidence
with the Company and that his or her employment by the Company will require that the Executive have access to and knowledge of valuable and sensitive information, material, and devices relating to the Company and/or its business, activities,
products, services, customers and vendors, including, but not limited to, the following, regardless of the form in which the same is accessed, maintained or stored: the identity of the Company’s actual and prospective customers and, as
applicable, their representatives; prior, current or future research or development activities of the Company; the products and services provided or offered by the Company to customers or potential customers and the manner in which such services are
performed or to be performed; the product and/or service needs of actual or prospective customers; pricing and cost information; information concerning the development, engineering, design, specifications, acquisition or disposition of products
and/or services of the Company; user base personal data, programs, software and source codes, licensing information, personnel information, advertising client information, vendor information, marketing plans and techniques, forecasts, and other
trade secrets (“Confidential Information”); and (B) the direct and indirect disclosure of any such Confidential Information would place the Company at a competitive disadvantage and would do damage, monetary or otherwise, to
the Company’s business. 

  

	 	(2)	 During the Term and at all times thereafter, the Executive shall not, directly or indirectly, whether
individually, as a director, stockholder, owner, partner, employee, consultant, principal or agent of any business, or in any other capacity, publish or make known, disclose, furnish, reproduce, make available, or utilize any of the Confidential
Information without the prior express written approval of the Company, other than in the proper performance of the duties contemplated herein, unless and until such Confidential Information is or shall become general public knowledge through no
fault of the Executive. 

  
 -6- 

	 	(3)	 In the event that the Executive is required by law to disclose any Confidential Information, the Executive
agrees to give the Company prompt advance written notice thereof and to provide the Company with reasonable assistance in obtaining an order to protect the Confidential Information from public disclosure. Notwithstanding anything to the contrary in
this Agreement or otherwise, nothing shall limit the Executive’s rights under applicable law to provide truthful information to any governmental entity or to file a charge with or participate in an investigation conducted by any governmental
entity. Notwithstanding the foregoing, the Executive agrees to waive the Executive’s right to recover monetary damages in connection with any charge, complaint or lawsuit filed by the Executive or anyone else on the Executive’s behalf
(whether involving a governmental entity or not); provided that the Executive is not agreeing to waive, and this Agreement shall not be read as requiring the Executive to waive, any right the Executive may have to receive an award for information
provided to any governmental entity. The Executive is hereby notified that the immunity provisions in Section 1833 of title 18 of the United States Code provide that an individual cannot be held criminally or civilly liable under any federal or
state trade secret law for any disclosure of a trade secret that is made (1) in confidence to federal, state or local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or
investigating a suspected violation of the law, (2) under seal in a complaint or other document filed in a lawsuit or other proceeding, or (3) to the Executive’s attorney in connection with a lawsuit for retaliation for reporting a
suspected violation of law (and the trade secret may be used in the court proceedings for such lawsuit) as long as any document containing the trade secret is filed under seal and the trade secret is not disclosed except pursuant to court order.

  

	 	(4)	 The failure to mark any Confidential Information as confidential shall not affect its status as Confidential
Information under this Agreement. 

  

	 	(b)	 Third Party Information in the Executive’s Possession. The Executive agrees that he or she shall
not, during the Term, (i) improperly use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to keep in confidence information acquired by
Executive, if any, or (ii) bring into the premises of Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer, person or entity.
The Executive will indemnify the Company and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of litigation, arising out of or in connection with any violation of
the foregoing. 

  

	 	(c)	 Third Party Information in the Company’s Possession. The Executive recognizes that the Company may
have received, and in the future may receive, from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited
purposes. The Executive agrees that the Executive owes the Company and such third parties, during the Term and thereafter, a duty to hold all such confidential or proprietary information in strict confidence and not to disclose such information to
any person or firm, or otherwise use such information, in a manner inconsistent with the limited purposes permitted by the Company’s agreement with such third party. 

This Section 8 shall survive the termination of the Agreement for any reason. In the event the Executive breaches this Section 8, the
Company shall have the right to seek remedies permissible under applicable law. 

  
 -7- 

	9.	 INTELLECTUAL PROPERTY 

 

	 	(a)	 Prior Inventions. The Executive has attached hereto, as Schedule B, a list describing all
inventions, ideas, improvements, designs and discoveries, in each case, whether or not patentable and whether or not reduced to practice, original works of authorship and trade secrets made or conceived by or belonging to the Executive (whether made
solely by the Executive or jointly with others) that (i) were developed by the Executive prior to the Executive’s employment by the Company, (ii) relate to the Company’s actual or proposed business, products or research and
development, and (iii) are not assigned to the Company hereunder (collectively, “Prior Inventions”); or, if no such list is attached, the Executive represents that there are no such Prior Inventions. Except to the extent set
forth in Schedule B, the Executive hereby acknowledges that, if in the course of his or her service for the Company, the Executive incorporates into a Company product, process or machine a Prior Invention owned by the Executive or in which he
or she has an interest, the Executive hereby grants to the Company a nonexclusive, royalty-free, irrevocable, nonterminable, perpetual, sublicensable (through multiple tiers), worldwide right and license (which may be freely transferred by the
Company to any other person or entity) under such Prior Inventions to make, have made, modify, use, offer to sell, sell, reproduce, make derivative works of, distribute, publicly perform, publicly display and otherwise exploit such Prior Invention
as part of or in connection with such product, process or machine. 

  

	 	(b)	 Assignment of Intellectual Property. The Executive hereby assigns and hereby agrees to assign to the
Company or its designees, without further consideration and free and clear of any lien or encumbrance, the Executive’s entire right, title and interest (within the United States and all foreign jurisdictions), to any and all inventions,
discoveries, improvements, developments, works of authorship, concepts, ideas, plans, specifications, software, formulas, databases, designees, processes, techniques, know-how and contributions to Confidential
Information, in each case, created, conceived, developed or reduced to practice by the Executive (alone or with others) during the Term which (i) are related to the Company’s current or anticipated business, activities, products, or
services, (ii) result from any work performed by the Executive for the Company, or (iii) are created, conceived, developed or reduced to practice with the use of Company property, including any and all Intellectual Property Rights (as
defined below) therein (collectively, “Work Product”). Any Work Product which falls within the definition of “work made for hire”, as such term is defined in the U.S. Copyright Act, shall be considered a “work made
for hire”, the copyright in which vests initially and exclusively in the Company. The Executive hereby unconditionally and irrevocably waives any rights to be attributed as the author of any Work Product and any “droit morale” (moral
rights) in Work Product. The Executive agrees to maintain adequate and current records (in the form of notes, sketches, drawings and in any other form that may be required by the Company) of all Work Product and shall immediately disclose to the
Company all Work Product. For purposes of this Agreement, “Intellectual Property” shall mean , anywhere in the world, any patent (including design patents) and utility models of any kind, patent applications, including provisional
applications, statutory invention registrations, inventions, discoveries and invention disclosures (whether or not patented), and all related continuations,
continuation-in-part, divisions, reissues, re-examinations, substitutions, and extensions thereof, published and unpublished
works of authorship whether or not copyrightable, including computer software programs, applications, source code and object code, computer formulas, designs, specifications, drawings, data, manuals and instructions and all customer and supplier
lists, sales and financial information, business plans and forecasts, all technical solutions and the trade secrets of our company and databases, other compilations of information, manual and other documentation, in each case whether or not
registered or sought to be registered, copyrights in and to the foregoing, together with all common law rights and moral rights therein, and any applications and registrations therefor, including extensions, renewals, restorations, reversions,
derivatives, translations, localizations, adaptations and combinations of the above, trademark or service mark, trade names, symbols, logos, trade dress, packaging design, slogans, Internet domain names, uniform resource locators, any other similar
identifiers of origin, in each case, whether or not registered, and any and all common law rights thereto, and registrations and applications for registration thereof and any goodwill associated therewith, trade secret, know-how, confidential or proprietary information, or any other intellectual property rights and/or proprietary rights protection legally available. 

  
 -8- 

	 	(c)	 Patent and Copyright Registration. The Executive agrees to execute and deliver any instruments or
documents, and to do all other things reasonably requested by the Company in order to more fully vest the Company with all rights in the Work Product. If any Work Product is deemed by the Company to be patentable or otherwise registrable, the
Executive shall assist the Company (at the Company’s expense) in obtaining letters of patent or other applicable registration therein and shall execute all documents and do all things, including testifying (at the Company’s expense)
necessary or appropriate to apply for, prosecute, obtain, or enforce any Intellectual Property right relating to any Work Product. Should the Company be unable to secure the Executive’s signature on any document deemed necessary to accomplish
the foregoing, whether due to the Executive’s disability or other reason, the Executive hereby irrevocably designates and appoints the Company and each of its duly authorized officers and agents as the Executive’s agent and attorney-in-fact to act for and on the Executive’s behalf and stead to take any of the actions required of the Executive under the previous sentence, with the same effect
as if executed and delivered by the Executive, such appointment being coupled with an interest. The Executive’s obligations under this paragraph will continue beyond the termination of the Employment with the Company, provided that the Company
will reasonably compensate the Executive after such termination for time or expenses actually spent by the Executive at the Company’s request on such assistance. 

This Section 9 shall survive the termination of the Agreement for any reason. In the event the Executive breaches this Section 9, the
Company shall have the right to seek any and all remedies permissible under applicable law. 
  

	10.	 CONFLICTING EMPLOYMENT 

The Executive hereby agrees that, during the Term, he or she will not engage in any other employment, occupation, consulting or other business
activity related to the business in which the Company is now involved or becomes involved during the Term, nor will the Executive engage in any other activities that conflict with his or her obligations to the Company without the prior written
consent of the Company. 

  
 -9- 

	11.	 NON-COMPETITION AND
NON-SOLICITATION 

  

	 	(a)	 Non-Competition. In consideration of the compensation provided
to the Executive by the Company hereunder, the adequacy of which is hereby acknowledged by the parties hereto, the Executive agree that during the Term and for a period of six months following the Date of Termination, the Executive shall not engage
in Competition (as defined below) with the Group. For purposes of this Agreement, “Competition” by the Executive shall mean the Executive’s engaging in, or otherwise directly or indirectly being employed by, associated with or
acting as a consultant or lender to, or being a director, officer, employee, principal, agent, stockholder, member, owner or partner of, or permitting the Executive’s name to be used in connection with the activities of, any other business or
organization which competes, directly or indirectly, with the Group in the Business; provided, however, it shall not be a violation of this Section 11(a) for the Executive to become the registered or beneficial owner of up to five
percent (5%) of any class of the capital stock of a corporation in Competition with the Group that is registered under the U.S. Securities Exchange Act of 1934, as amended, provided that the Executive does not otherwise participate in the business
of such corporation 

 For purposes of this Agreement, “Business” means the provision of wealth management
and asset management services and any other business which the Group engages in, or is preparing to become engaged in, during the Term. 
  

	 	(b)	 Non-Solicitation;
Non-Interference. During the Term and for a period of one year following the Date of Termination, the Executive agrees that he or she will not, directly or indirectly, for the Executive’s benefit or
for the benefit of any other person or entity, do any of the following, without the Group’s prior express consent: 

  

	 	(1)	 approach the suppliers, clients, customers or contacts or other persons or entities introduced to the Executive
in his or her capacity as a representative of the Group for the purpose of doing business with such persons or entities (including prospective suppliers, clients, customers or contacts) that will harm the business relationships of the Group with
these persons or entities; 

  

	 	(2)	 assume employment with or provide services to any competitors of the Group, or engage, whether as principal,
partner, licensor or otherwise, any of the Group’s competitors; or 

  

	 	(3)	 seek directly or indirectly, to encourage, advise, request or otherwise solicit the services of any employees
of the Group who is employed by us on or after the Date of Termination, or in the year preceding such termination. 

  

	 	(c)	 Non-Disparagement. During the Term and thereafter, the Executive
will not, in any manner, directly or indirectly make or publish any statement (orally or in writing) that would libel, slander, disparage, denigrate, ridicule or criticize the Company, any of its subsidiaries and/or affiliates or any of their
employees, officers or directors. 

  
 -10- 

	 	(d)	 Injunctive Relief; Indemnity of Company. The Executive agrees that any breach or threatened breach of
subsections (a) and (b) of this Section 11 would result in irreparable injury and damage to the Company for which an award of money to the Company would not be an adequate remedy. The Executive therefore also agrees that in the event of
said breach or any reasonable threat of breach, the Company shall be entitled to seek an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all persons
and/or entities acting for and/or with the Executive. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including, but not limited to, remedies available
under this Agreement and the recovery of damages. The Executive and the Company further agree that the provisions of this Section 11 are reasonable in both duration and geographic scope and in all other respects. The Executive agrees to
indemnify and hold harmless the Company from and against all reasonable expenses (including reasonable fees and disbursements of counsel) which may be incurred by the Company in connection with, or arising out of, any violation of this Agreement by
the Executive. This Section 11 shall survive the termination of the Agreement for any reason. In the event that any such provisions should be found to be void under applicable laws but would be valid if some part thereof was deleted or the
period or area of application reduced, such provisions shall apply with such modification as may be necessary to make them valid and effective. 

  

	12.	 WITHHOLDING TAXES 

Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any
amounts otherwise due or payable under or pursuant to the Agreement such national, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation. 

 

	13.	 ASSIGNMENT 

The Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer the
Agreement or any rights or obligations hereunder; provided, however, that the Company may assign or transfer the Agreement or any rights or obligations hereunder to any member of the Group without such consent. If the Executive should die while any
amounts would still be payable to the Executive hereunder if the Executive had continued to live, all such amounts unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the Executive’s devisee,
legatee, or other designee or, if there be no such designee, to the Executive’s estate. The Company will require any and all successors (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this
Section 13, “Company” shall mean the Company as herein before defined and any successor to its business and/or assets as aforesaid which executes and delivers the agreement provided for in this Section 13 or which otherwise
becomes bound by all the terms and provisions of this Agreement by operation of law. 

  
 -11- 

	14.	 SEVERABILITY 

If any provision of the Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications
of the Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of the Agreement are declared to be severable. 
  

	15.	 ENTIRE AGREEMENT 

The Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment
and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The Executive acknowledges that he or she has not entered into the Agreement in reliance upon any representation, warranty or undertaking which is
not set forth in the Agreement. 
  

	16.	 GOVERNING LAW 

The Agreement shall be governed by and construed in accordance with the law of The Hong Kong Special Administrative Region, without regard to
the conflicts of law principles. 
  

	17.	 AMENDMENT 

The Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly
referring to the Agreement, which agreement is executed by both of the parties hereto. 
  

	18.	 WAIVER 

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under the Agreement shall operate as
a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or
privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have
granted such waiver. 
  

	19.	 NOTICES 

All notices, requests, demands and other communications required or permitted under the Agreement shall be in writing and shall be deemed to
have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, (iii) sent by a recognized courier with next-day or
second-day delivery to the address of the other party; or (iv) sent by e-mail with confirmation of receipt. 

If to the Executive: 

Address on file with the Company 

  
 -12- 

 If to the Company: 

ECMOHO Limited 
 3F, 1000
Tianyaoqiao Road 
 Xuhui District 

Shanghai, 200030 
 The
People’s Republic of China 
 +86 21 6113 2270 

Attention: Chief Executive Officer 
  

	20.	 COUNTERPARTS 

The Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument. The Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties
reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 
  

	21.	 NO INTERPRETATION AGAINST DRAFTER 

Each party recognizes that the Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult with
legal counsel of choice. In any construction of the terms of the Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such terms. 

[Remainder of the page intentionally left blank.] 

  
 -13- 

 IN WITNESS WHEREOF, the Agreement has been executed as of the date first written
above. 
  

					
	COMPANY:	 	      ECMOHO Limited
		 	      a Cayman Islands exempted company
			
		 	      By:	 	  

		 		 	Name:
		 		 	Title:

							
				
	EXECUTIVE:	 		 		 	
			
		 		 	  

		 		 	Name:	 	

 SCHEDULE A 

Base Salary 

 SCHEDULE B 

Prior InventionsExhibit 4.1 

[FORM OF SENIOR CONVERTIBLE NOTE]

THE PRINCIPAL AMOUNT REPRESENTED BY THIS
NOTE AND, ACCORDINGLY, THE SECURITIES ISSUABLE UPON CONVERSION HEREOF MAY BE LESS THAN THE AMOUNTS SET FORTH ON THE FACE HEREOF
PURSUANT TO SECTION 3(c)(iii) OF THIS NOTE.

THIS NOTE HAS BEEN ISSUED WITH ORIGINAL ISSUE
DISCOUNT (“OID”). PURSUANT TO TREASURY REGULATION §1.1275-3(b)(1), MARK CARBECK, A REPRESENTATIVE OF THE COMPANY
HEREOF WILL, BEGINNING TEN DAYS AFTER THE ISSUANCE DATE OF THIS NOTE, PROMPTLY MAKE AVAILABLE TO THE HOLDER UPON REQUEST THE INFORMATION
DESCRIBED IN TREASURY REGULATION §1.1275-3(b)(1)(i). MARK CARBECK MAY BE REACHED AT TELEPHONE NUMBER (44 207 258 9909).

Eros
International Plc

Senior
Convertible Note Due 2020

	Issuance Date:  September __, 2019 

(the “Issuance Date”)	Original Principal Amount: U.S. $27,500,000

 

FOR VALUE RECEIVED,
Eros International Plc, a public limited company organized under the laws of the Isle of Man (the “Company”),
hereby promises to pay to the order of [BUYER] or its registered assigns (“Holder”) the amount set forth above
as the Original Principal Amount (as reduced pursuant to the terms hereof pursuant to redemption, conversion or otherwise, the
“Principal”) when due, whether upon the Maturity Date, or upon acceleration, redemption or otherwise (in each
case in accordance with the terms hereof) and, if an Event of Default has occurred and is continuing, to pay interest (“Interest”)
on any outstanding Principal at the applicable Default Rate (as defined below) until the same becomes due and payable, whether
upon the Maturity Date or upon acceleration, conversion, redemption or otherwise (in each case in accordance with the terms hereof).
This Senior Convertible Note (including all Senior Convertible Notes issued in exchange, transfer or replacement hereof, this “Note”)
is one of an issue of Senior Convertible Notes (collectively, the “Notes”, and such other Senior Convertible
Notes, the “Other Notes”) issued pursuant to (i) Section 1 of that certain Securities Purchase Agreement, dated
as of September 26, 2019 (the “Subscription Date”), by and among the Company and the investors (the “Buyers”)
referred to therein, as amended from time to time (the “Securities Purchase Agreement”) and (ii) the Company’s
Registration Statement on Form F-3 (File number 333- 219708) (the “Registration Statement”). Certain capitalized
terms used herein are defined in Section 29.

1.                 
PAYMENTS OF PRINCIPAL. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all
outstanding Principal, accrued and unpaid Interest and accrued and unpaid Late Charges (as defined in Section 22(c)) on such Principal
and Interest. Other than as specifically permitted by this Note, the Company may not prepay any portion of the outstanding Principal.

    

     

    

2.                 
INTEREST; INTEREST RATE.

(a)               
This Note was issued with original issue discount as described in the Securities Purchase Agreement. This Note shall not
bear Interest except upon the occurrence (and during the continuance) of an Event of Default (as defined below), in which case
this Note shall bear interest at a rate of six percent (6.0%) per annum (the “Default Rate”). In the event that
such Event of Default is subsequently cured or waived in accordance with the terms of this Note (and no other Event of Default
then exists (including, without limitation, for the Company’s failure to pay such Interest at the Default Rate on the applicable
Interest Date)), Interest hereunder shall cease to accrue as of the calendar day immediately following the date of such cure or
waiver; provided that the Interest as calculated and unpaid during the continuance of such Event of Default shall continue to apply
to the extent relating to the days after the occurrence of such Event of Default through and including the date of such cure or
waiver of such Event of Default.

(b)              
Interest on this Note shall (i) commence accruing upon the occurrence of an Event of Default, (ii) be computed on the basis
of a 360-day year and twelve 30-day months, (iii) be payable in arrears on each Interest Date in accordance with the terms of this
Note and (iv) if unpaid on an Interest Date, shall compound on such Interest Date. Interest shall be paid on each Interest Date
in cash. Prior to the payment of Interest on an Interest Date, Interest on this Note shall be payable by way of inclusion of the
Interest in the Conversion Amount (as defined below) on each Conversion Date (as defined below) in accordance with Section 3(b)(i)
or upon any redemption in accordance with Section 10 or any required payment upon any Bankruptcy Event of Default (as defined below).

3.     
CONVERSION OF NOTES. At any time after the date set forth above as the Issuance Date (the “Issuance Date”),
this Note shall be convertible into validly issued, fully paid and non-assessable Ordinary Shares (as defined below), on the terms
and conditions set forth in this Section 3.

(a)               
Conversion Right. Subject to the provisions of Section 3(d), at any time or times on or after the Issuance Date,
the Holder shall be entitled to convert any portion of the outstanding and unpaid Conversion Amount (as defined below) into validly
issued, fully paid and non-assessable Ordinary Shares in accordance with Section 3(c), at the Conversion Rate (as defined below).
The Company shall not issue any fraction of an Ordinary Share upon any conversion. If the issuance would result in the issuance
of a fraction of an Ordinary Share, the Company shall round such fraction of an Ordinary Share up to the nearest whole share. The
Company shall pay any and all transfer, stamp, issuance and similar taxes, costs and expenses (including, without limitation, fees
and expenses of the transfer agent of the Company (the “Transfer Agent”)) that may be payable with respect to
the issuance and delivery of Ordinary Shares upon conversion of any Conversion Amount.

(b)              
Conversion Rate. The number of Ordinary Shares issuable upon conversion of any Conversion Amount pursuant to Section
3(a) shall be determined by dividing (x) such Conversion Amount by (y) the Conversion Price (the “Conversion

    2 

     

    

Rate”).

(i)                
“Conversion Amount” means the sum of (x) portion of the Principal to be converted, redeemed or otherwise
with respect to which this determination is being made and (y) all accrued and unpaid Interest with respect to such portion of
the Principal amount and accrued and unpaid Late Charges with respect to such portion of such Principal and such Interest, if any.

(ii)              
“Conversion Price” means, as of any Conversion Date or other date of determination, $3.59, subject to
adjustment as provided herein.

(c)               
Mechanics of Conversion.

(i)                
Optional Conversion. To convert any Conversion Amount into Ordinary Shares on any date (a “Conversion Date”),
the Holder shall deliver (whether via facsimile, electronic mail or otherwise), for receipt on or prior to 4:00 p.m., New York
time, on such date, a copy of an executed notice of conversion in the form attached hereto as Exhibit I (the “Conversion
Notice”) to the Company. If required by Section 3(c)(iii), within two (2) Trading Days following a conversion of this
Note as aforesaid, the Holder shall surrender this Note to a nationally recognized overnight delivery service for delivery to the
Company (or an indemnification undertaking with respect to this Note in the case of its loss, theft or destruction as contemplated
by Section 16(b)). On or before 4:00 p.m. New York time, on the first (1st) Trading Day following the date of receipt of a Conversion
Notice, the Company shall transmit by facsimile or electronic mail an acknowledgment of confirmation, in the form attached hereto
as Exhibit II, to the Holder and the Transfer Agent which confirmation shall constitute an instruction to the Transfer Agent
to process such Conversion Notice in accordance with the terms herein. On or before 4:00 p.m. New York time on the second (2nd)
Trading Day following the date on which the Company has received a Conversion Notice (or such earlier date as required pursuant
to the 1934 Act or other applicable law, rule or regulation for the settlement of a trade initiated on the applicable Conversion
Date of such Ordinary Shares issuable pursuant to such Conversion Notice) (the “Share Delivery Deadline”), the
Company shall (1) provided that the Transfer Agent is participating in the DTC Fast Automated Securities Transfer Program, credit
such aggregate number of Ordinary Shares to which the Holder shall be entitled pursuant to such conversion to the Holder’s
or its designee’s balance account with DTC through its Deposit/Withdrawal at Custodian system or (2) if the Transfer Agent
is not participating in the DTC Fast Automated Securities Transfer Program, upon the request of the Holder, issue and deliver (via
reputable overnight courier) to the address as specified in the Conversion Notice, a certificate, registered in the name of the
Holder or its designee, for the number of Ordinary Shares to which the Holder shall be entitled pursuant to such conversion. If
this Note is physically surrendered for conversion pursuant to Section 3(c)(iii) and the outstanding Principal of this Note is
greater than the Principal portion of the Conversion Amount being converted, then the Company shall as soon as practicable and
in no event later than five (5) Business Days after receipt of this Note and at its own expense, issue and deliver to the Holder
(or its designee) a new Note (in accordance with Section 16(d)) representing
the outstanding Principal not converted. The Person or Persons entitled to receive the Ordinary Shares issuable upon a conversion
of this Note shall be treated for all purposes as the record holder or holders of such Ordinary Shares on the Conversion Date.

    3 

     

    

(ii)              
Company’s Failure to Timely Convert. If the Company shall fail, for any reason or for no reason, on or prior
to the applicable Share Delivery Deadline, if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer
Program, to issue and deliver to the Holder (or its designee) a certificate for the number of Ordinary Shares to which the Holder
is entitled and register such Ordinary Shares on the Company’s share register or, if the Transfer Agent is participating
in the DTC Fast Automated Securities Transfer Program, to credit the balance account of the Holder or the Holder’s designee
with DTC for such number of Ordinary Shares to which the Holder is entitled upon the Holder’s conversion of this Note (as
the case may be) (a “Conversion Failure”), and if on or after such Share Delivery Deadline the Holder purchases
(in an open market transaction or otherwise) Ordinary Shares corresponding to all or any portion of the number of Ordinary Shares
issuable upon such conversion that the Holder is entitled to receive from the Company and has not received from the Company in
connection with such Conversion Failure (a “Buy-In”), then, in addition to all other remedies available to the
Holder, the Company shall, within two (2) Business Days after receipt of the Holder’s request and in the Holder’s discretion,
either: (I) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions
and other reasonable and documented out-of-pocket expenses, if any) for the Ordinary Shares so purchased (including, without limitation,
by any other Person in respect, or on behalf, of the Holder) (the “Buy-In Price”), but in no event with respect
to a number of Ordinary Shares greater than the number of Ordinary Shares to which the Holder was entitled to receive upon conversion,
at which point the Company’s obligation to so issue and deliver such certificate (and to issue such Ordinary Shares) or credit
the balance account of such Holder or such Holder’s designee, as applicable, with DTC for the number of Ordinary Shares to
which the Holder is entitled upon the Holder’s conversion hereunder (as the case may be) (and to issue such Ordinary Shares)
shall terminate, or (II) promptly honor its obligation to so issue and deliver to the Holder a certificate or certificates representing
such Ordinary Shares or credit the balance account of such Holder or such Holder’s designee, as applicable, with DTC for
the number of Ordinary Shares to which the Holder is entitled upon the Holder’s conversion hereunder (as the case may be)
and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (x) such number of
Ordinary Shares multiplied by (y) the lowest Closing Sale Price of the Ordinary Shares on any Trading Day during the period commencing
on the date of the applicable Conversion Notice and ending on the date of such issuance and payment under this clause (II) (the
“Buy-In Payment Amount”). Nothing shall limit the Holder’s right to pursue any other remedies available
to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief
with respect to the Company’s failure to timely deliver certificates representing Ordinary Shares (or to electronically deliver
such Ordinary Shares) upon the conversion of this Note as required pursuant to the terms hereof.

    4 

     

    

(iii)            
Registration; Book-Entry. The Company shall maintain a register (the “Register”) for the recordation
of the names and addresses of the holders of each Note and the principal amount of the Notes held by such holders (the “Registered
Notes”). The entries in the Register shall be conclusive and binding for all purposes absent manifest error. The Company
and the holders of the Notes shall treat each Person whose name is recorded in the Register as the owner of a Note for all purposes
(including, without limitation, the right to receive payments of Principal and Interest hereunder) notwithstanding notice to the
contrary. A Registered Note may be assigned, transferred or sold in whole or in part only by registration of such assignment or
sale on the Register. Upon its receipt of a written request to assign, transfer or sell all or part of any Registered Note by the
holder thereof, the Company shall record the information contained therein in the Register and issue one or more new Registered
Notes in the same aggregate principal amount as the principal amount of the surrendered Registered Note to the designated assignee
or transferee pursuant to Section 16, provided that if the Company does not so record an assignment, transfer or sale (as
the case may be) of all or part of any Registered Note within two (2) Business Days of such a request, then the Register shall
be automatically deemed updated to reflect such assignment, transfer or sale (as the case may be). Notwithstanding anything to
the contrary set forth in this Section 3, following conversion of any portion of this Note in accordance with the terms hereof,
the Holder shall not be required to physically surrender this Note to the Company unless (A) the full Conversion Amount represented
by this Note is being converted (in which event this Note shall be delivered to the Company following conversion thereof as contemplated
by Section 3(c)(i)) or (B) the Holder has provided the Company with prior written notice (which notice may be included in a Conversion
Notice) requesting reissuance of this Note upon physical surrender of this Note. The Holder and the Company shall maintain records
showing the Principal, Interest and Late Charges converted and/or paid (as the case may be) and the dates of such conversions,
and/or payments (as the case may be) or shall use such other method, reasonably satisfactory to the Holder and the Company, so
as not to require physical surrender of this Note upon conversion. If the Company does not update the Register to record such Principal,
Interest and Late Charges converted and/or paid (as the case may be) and the dates of such conversions, and/or payments (as the
case may be) within two (2) Business Days of such occurrence, then the Register shall be automatically deemed updated to reflect
such occurrence.

(iv)            
Pro Rata Conversion; Disputes. In the event that the Company receives a Conversion Notice from more than one holder
of Notes for the same Conversion Date and the Company can convert some, but not all, of such portions of the Notes submitted for
conversion, the Company, subject to Section 3(d), shall convert from each holder of Notes electing to have Notes converted on such
date a pro rata amount of such holder’s portion of its Notes submitted for conversion based on the principal amount of Notes
submitted for conversion on such date by such holder relative to the aggregate principal amount of all Notes submitted for conversion
on such date. In the event of a dispute as to the number of Ordinary Shares issuable to the Holder in connection
with a conversion of this Note, the Company shall issue to the Holder the number of Ordinary Shares not in dispute and resolve
such dispute in accordance with Section 21.

    5 

     

    

(d)              
Limitations on Conversions.

(i)                
Beneficial Ownership. The Company shall not effect the conversion of any portion of this Note, and the Holder shall
not have the right to convert any portion of this Note pursuant to the terms and conditions of this Note and any such conversion
shall be null and void and treated as if never made, to the extent that after giving effect to such conversion, the Holder together
with the other Attribution Parties collectively would beneficially own in excess of 4.99% (the “Maximum Percentage”)
of the Ordinary Shares outstanding immediately after giving effect to such conversion. For purposes of the foregoing sentence,
the aggregate number of Ordinary Shares beneficially owned by the Holder and the other Attribution Parties shall include the number
of Ordinary Shares held by the Holder and all other Attribution Parties plus the number of Ordinary Shares issuable upon conversion
of this Note with respect to which the determination of such sentence is being made, but shall exclude Ordinary Shares which would
be issuable upon (A) conversion of the remaining, nonconverted portion of this Note beneficially owned by the Holder or any of
the other Attribution Parties and (B) exercise or conversion of the unexercised or nonconverted portion of any other securities
of the Company (including, without limitation, any convertible notes or convertible preferred shares or warrants, including, without
limitation, the 2017 Note (as defined in the Securities Purchase Agreement)and the 2017 Warrant (as defined in the Securities Purchase
Agreement) beneficially owned by the Holder or any other Attribution Party subject to a limitation on conversion or exercise analogous
to the limitation contained in this Section 3(d)(i). For purposes of this Section 3(d)(i), beneficial ownership shall be calculated
in accordance with Section 13(d) of the 1934 Act. For purposes of determining the number of outstanding Ordinary Shares the Holder
may acquire upon the conversion of this Note without exceeding the Maximum Percentage, the Holder may rely on the number of outstanding
Ordinary Shares as reflected in (x) the Company’s most recent Annual Report on Form 20-F, Report of Foreign Issuer on Form
6-K or other public filing with the SEC, as the case may be, (y) a more recent public announcement by the Company or (z) any other
written notice by the Company or the Transfer Agent, if any, to the Holder setting forth the number of Ordinary Shares outstanding
(the “Reported Outstanding Share Number”). If the Company receives a Conversion Notice from the Holder at a
time when the actual number of outstanding Ordinary Shares is less than the Reported Outstanding Share Number, the Company shall
notify the Holder in writing of the number of Ordinary Shares then outstanding and, to the extent that such Conversion Notice would
otherwise cause the Holder’s beneficial ownership, as determined pursuant to this Section 3(d)(i) to exceed the Maximum Percentage,
the Holder must notify the Company of a reduced number of Ordinary Shares to be purchased pursuant to such Conversion Notice. For
any reason at any time, upon the written or oral request of the Holder, the Company shall within one (1) Business Day confirm orally
and in writing or by electronic mail to the Holder the number of Ordinary Shares

    6 

     

    

outstanding as of the prior Business
Day. In any case, the number of outstanding Ordinary Shares shall be determined after giving effect to the conversion or exercise
of securities of the Company, including this Note, by the Holder and any other Attribution Party since the date as of which the
Reported Outstanding Share Number was reported. In the event that the issuance of Ordinary Shares to the Holder upon conversion
of this Note results in the Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than
the Maximum Percentage of the number of outstanding Ordinary Shares (as determined under Section 13(d) of the 1934 Act), the number
of shares so issued by which the Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds
the Maximum Percentage (the “Excess Shares”) shall be deemed null and void and shall be cancelled ab initio,
and the Holder shall not have the power to vote or to transfer the Excess Shares. Upon delivery of a written notice to the Company,
the Holder may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery
of such notice) or decrease the Maximum Percentage to any other percentage not in excess of 9.99% or less than 4.99%, in each case,
as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective until the sixty-first
(61st) day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the
Holder and the other Attribution Parties and not to any other holder of Notes that is not an Attribution Party of the Holder. For
purposes of clarity, the Ordinary Shares issuable pursuant to the terms of this Note in excess of the Maximum Percentage shall
not be deemed to be beneficially owned by the Holder for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1)
of the 1934 Act. No prior inability to convert this Note pursuant to this paragraph shall have any effect on the applicability
of the provisions of this paragraph with respect to any subsequent determination of convertibility. The provisions of this paragraph
shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3(d)(i) to the
extent necessary to correct this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended
beneficial ownership limitation contained in this Section 3(d)(i) or to make changes or supplements necessary or desirable to properly
give effect to such limitation. The limitation contained in this paragraph (after giving effect to any increase or decrease in
the Maximum Percentage as described above) may not be waived and shall apply to a successor holder of this Note.

(ii)              
Additional Conversion Limitation. With respect to any given Conversion Notice delivered by the Holder to the Company
on any given Conversion Date prior to [ ][1],
if the Closing Bid Price of the Ordinary Shares as of the Trading Day ended immediately prior to such Conversion Date is greater
than $2.33 and less than $4.85 (each such Conversion Date, an “Additional Conversion Limitation Date”, and each
such conversion, an “Additional Limitation Conversion”), such Conversion Notice shall not be valid and the Company
shall have no obligation to effect any conversion of this Note hereunder on such Additional Conversion Limitation Date pursuant to
such Conversion Notice if such Conversion Amount to be converted pursuant to such Conversion Notice, together with the Conversion
Amount converted in any prior Additional Limitation Conversions of this Note in such calendar month in which such Additional Conversion
Limitation Date occurs, collectively, exceed $4.5 million.

 

[1]
Insert six month anniversary of the Issuance Date

    7 

     

    

(e)               
Right of Alternate Conversion.

(i)                
General.

(1)              
Alternate Optional Conversion. Subject to Section 3(d), at any time on or after [ , 2019][2],
at the option of the Holder, the Holder may convert (each, an “Alternate Optional Conversion”, and the date
of such Alternate Optional Conversion, an “Alternate Optional Conversion Date”) all, or any part, of this Note
into Ordinary Shares (such portion of the Conversion Amount subject to such Alternate Optional Conversion, the “Alternate
Optional Conversion Amount”) at the Alternate Conversion Price.

(2)              
Alternate Conversion Upon an Event of Default. Subject to Section 3(d), at any time at any time during an Event of
Default Redemption Right Period (or, if any default or event of default has occurred under any Indebtedness of the Company or any
of its Subsidiaries (taking into account any grace period provided therein), any Event of Default Redemption Right Period that
would be deemed to then exist hereunder assuming the acceleration of such Indebtedness as of the date of initial occurrence of
such default or event of default thereunder, as applicable), regardless of whether the Holder has delivered an Event of Default
Redemption Notice to the Company, the Holder may, at the Holder’s option, convert (each, an “Alternate Event of
Default Conversion” and together with each Alternate Optional Conversion, each, an “Alternate Conversion”,
and the date of such Alternate Event of Default Conversion, each, an “Alternate Event of Default Conversion Date”,
and together with each Alternate Optional Conversion Date, each, an “Alternate Conversion Date”) all, or any
part of, the Conversion Amount (such portion of the Conversion Amount subject to such Alternate Conversion, the “Alternate
Event of Default Conversion Amount” and together with each Alternate Optional Conversion Amount, each, an “Alternate
Conversion Amount”) into Ordinary Shares at the Alternate Default Conversion Price.

(ii)              
Mechanics of Alternate Conversion. On any Alternate Conversion Date, the Holder may voluntarily convert any Alternate
Conversion Amount pursuant to Section 3(c) (with (x) the applicable “Alternate Conversion Price” replacing “Conversion
Price” for all purposes hereunder with respect to such Alternate Optional Conversion and (y) the applicable “Alternate
Default Conversion Price” replacing “Conversion Price” for all purposes hereunder with respect to such Alternate
Event of Default Conversion and, solely with respect to the calculation of the number of Ordinary Shares issuable upon conversion
of any Conversion Amount in an Alternate Event of Default Conversion, with “Redemption Premium of the Conversion Amount”
replacing “Conversion Amount” in clause (x) of the definition of Conversion Rate above with respect to such Alternate
Event of Default Conversion) by designating in the Conversion Notice delivered pursuant to this Section 3(e) of this Note that
the Holder is electing to use the Alternate Conversion Price or Alternate Default Conversion Price, as applicable, for such conversion.
Notwithstanding anything to the contrary in this Section 3(e), but subject to Section 3(d), until the Company delivers Ordinary
Shares representing the applicable Alternate Conversion Amount to the Holder, such Alternate Conversion Amount may be converted
by the Holder into Ordinary Shares pursuant to Section 3(c) without regard to this Section 3(e).

 

[2]
Insert four month anniversary of the Issuance Date

    8 

     

    

4.                 
RIGHTS UPON EVENT OF DEFAULT.

(a)               
Event of Default. Each of the following events shall constitute an “Event of Default” and each
of the events in clauses (vi), (vii) and (viii) shall constitute a “Bankruptcy Event of Default”:

(i)                
the suspension (or threatened suspension) from trading or the failure (or threatened failure) of the Ordinary Shares to
be trading or listed (as applicable) on an Eligible Market for a period of five (5) consecutive Trading Days;

(ii)              
the Company’s (A) failure to cure a Conversion Failure by delivery of the required number of Ordinary Shares within
five (5) Trading Days after the applicable Conversion Date or exercise date (as the case may be) or (B) notice, written or oral,
to any holder of the Notes, including, without limitation, by way of public announcement or through any of its agents, at any time,
of its intention not to comply, as required, with a request for conversion of any Notes into Ordinary Shares that is requested
in accordance with the provisions of the Notes, other than pursuant to Section 3(d);

(iii)            
except to the extent the Company is in compliance with Section 9(b) below, at any time following the tenth (10th)
consecutive day that the Holder’s Authorized Share Allocation (as defined in Section 9(a) below) is less than the number
of Ordinary Shares that the Holder would be entitled to receive upon a conversion of the full Conversion Amount of this Note (without
regard to any limitations on conversion set forth in Section 3(d) or otherwise);

(iv)            
the Company’s failure to pay to the Holder any amount of Principal, Interest, Late Charges or other amounts when and
as due under this Note (including, without limitation, the Company’s failure to pay any redemption payments or amounts hereunder)
or any other Transaction Document (as defined in the Securities Purchase Agreement), except, in the case of a failure to pay Interest,
Late Charges or other amounts due under this Note or any other Transaction Document (other than Principal) when and as due, in
which case only if such failure remains uncured for a period of at least
five (5) Trading Days;

    9 

     

    

(v)              
any Indebtedness (as defined in the Securities Purchase Agreement) of the Company or any Subsidiary, in an outstanding principal
amount, individually or in the aggregate, in excess of $10,000,000 (or its equivalent in any other currency) is not paid at final
maturity (or when otherwise due) or is accelerated, and such Indebtedness is not discharged (or such default in payment or acceleration
is not cured or rescinded) within five days after such due date or acceleration, as the case may be;

(vi)            
bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for the relief of debtors shall be
instituted by or against the Company or any Subsidiary and, if instituted against the Company or any Subsidiary by a third party,
shall not be dismissed within forty-five (45) days of their initiation;

(vii)          
the commencement by the Company or any Subsidiary of a voluntary case or proceeding under any applicable federal, state
or foreign bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt
or insolvent, or the consent by it to the entry of a decree, order, judgment or other similar document in respect of the Company
or any such Subsidiary in an involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency,
reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the
filing by it of a petition or answer or consent seeking reorganization or relief under any applicable federal, state or foreign
law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or such Subsidiary or of any substantial part
of its property, or the making by it of an assignment for the benefit of creditors, or the execution of a composition of debts,
or the occurrence of any other similar federal, state or foreign proceeding, or the admission by it in writing of its inability
to pay its debts generally as they become due, the taking of corporate action by the Company or any such Subsidiary in furtherance
of any such action or the taking of any action by any Person to commence a Uniform Commercial Code foreclosure sale or any other
similar action under federal, state or foreign law;

(viii)        
the entry by a court of (i) a decree, order, judgment or other similar document in respect of the Company or any Subsidiary
of a voluntary or involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization
or other similar law or (ii) a decree, order, judgment or other similar document adjudging the Company or any Subsidiary as bankrupt
or insolvent, or approving as properly filed a petition seeking liquidation, reorganization, arrangement, adjustment or composition
of or in respect of the Company or any Subsidiary under any applicable federal, state or foreign law or (iii) a decree, order,
judgment or other similar document appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or any Subsidiary or of any substantial part of its or their property, or ordering the winding up or liquidation of its affairs,
and the continuance of any such decree, order, judgment or other similar document or any such other decree, order, judgment or
other similar document unstayed and in effect for a period of forty-five (45) consecutive days;

    10 

     

    

(ix)            
a final judgment or judgments for the payment of money aggregating in excess of $10,000,000 are rendered against the Company
and/or any Subsidiary and which judgments are not, within forty-five (45) days after the entry thereof, bonded, discharged, settled
or stayed pending appeal, or are not discharged within forty-five (45) days after the expiration of such stay; provided, however,
any judgment which is covered by insurance or an indemnity from a credit worthy party shall not be included in calculating the
$10,000,000 amount set forth above so long as the Company has notified such insurer or indemnity provider of such judgment and
such insurer or indemnity provider has not denied coverage;

(x)              
other than as specifically set forth in another clause of this Section 4(a), the Company breaches any covenant or other
term or condition of any Transaction Document, except, in the case of a breach of a covenant or other term or condition that is
curable, only if such breach remains uncured for a period of five (5) consecutive Trading Days;

(xi)            
any representation or warranty made or deemed made by the Company (including any representation or warranty regarding any
Subsidiary) in any Transaction Document shall prove to have been inaccurate in any material respect (without duplication of any
“materiality” or similar qualifiers set forth therein) on or as of the date made or deemed made (or if any representation
or warranty is expressly stated to have been made as of a specific date, inaccurate in any material respect as of such specific
date);

(xii)          
a false or inaccurate certification (including a false or inaccurate deemed certification) by the Company as to whether
any Event of Default has occurred; or

(xiii)        
any breach or failure in any respect by the Company or any Subsidiary to comply with any provision of Section 14 of this
Note.

(b)              
Notice of an Event of Default; Redemption Right. Upon the occurrence of an Event of Default with respect to this
Note or any Other Note, the Company shall within two (2) Business Days deliver written notice thereof via facsimile or electronic
mail and overnight courier (with next day delivery specified) (an “Event of Default Notice”) to the Holder.
At any time after the earlier of the Holder’s receipt of an Event of Default Notice and the Holder becoming aware of an Event
of Default (such earlier date, the “Event of Default Right Commencement Date”) and ending (such ending date,
the “Event of Default Right Expiration Date”, and each such period, an “Event of Default Redemption
Right Period”) on the earlier of (i) the date such Event of Default is waived by the Required Holders or all the Holders,
as applicable (or such later date as set forth in the applicable waiver with respect thereto), and (ii) the twentieth (20th)

    11 

     

    

Trading Day after the later of (x) the
date such Event of Default is cured and (y) the Holder’s receipt of an Event of Default Notice that includes (I) a reasonable
description of the applicable Event of Default, (II) a certification as to whether, in the opinion of the Company, such Event of
Default is capable of being cured and, if applicable, a reasonable description of any existing plans of the Company to cure such
Event of Default and (III) a certification as to the date the Event of Default occurred and, if cured on or prior to the date of
such Event of Default Notice, the applicable Event of Default Right Expiration Date, the Holder may require the Company to redeem
all or any portion of this Note by delivering written notice thereof (the “Event of Default Redemption Notice”)
to the Company, which Event of Default Redemption Notice shall indicate the portion of this Note the Holder is electing to redeem.
Each portion of this Note subject to redemption by the Company pursuant to this Section 4(b) shall be redeemed by the Company at
a price equal to the greater of (i) the product of (A) the Conversion Amount to be redeemed multiplied by (B) the Redemption Premium
and (ii) the product of (X) the Conversion Rate with respect to the Conversion Amount in effect at such time as the Holder delivers
an Event of Default Redemption Notice multiplied by (Y) the greatest Closing Sale Price of the Ordinary Shares on any Trading Day
during the period commencing on the date immediately preceding such Event of Default and ending on the date the Company makes the
entire payment required to be made under this Section 4(b) (the “Event of Default Redemption Price”). Redemptions
required by this Section 4(b) shall be made in accordance with the provisions of Section 10. To the extent redemptions required
by this Section 4(b) are deemed or determined by a court of competent jurisdiction to be prepayments of this Note by the Company,
such redemptions shall be deemed to be voluntary prepayments. Notwithstanding anything to the contrary in this Section 4(b), but
subject to Section 3(d), until the Event of Default Redemption Price (together with any Late Charges thereon) is paid in full,
the Conversion Amount submitted for redemption under this Section 4(b) (together with any Late Charges thereon) may be converted,
in whole or in part, by the Holder into Ordinary Shares pursuant to the terms of this Note. In the event of the Company’s
redemption of any portion of this Note under this Section 4(b), the Holder’s damages would be uncertain and difficult to
estimate because of the parties’ inability to predict future interest rates and the uncertainty of the availability of a
suitable substitute investment opportunity for the Holder. Accordingly, any redemption premium due under this Section 4(b) is intended
by the parties to be, and shall be deemed, a reasonable estimate of the Holder’s actual loss of its investment opportunity
and not as a penalty. Any redemption upon an Event of Default shall not constitute an election of remedies by the Holder, and all
other rights and remedies of the Holder shall be preserved.

(c)               
Mandatory Redemption upon Bankruptcy Event of Default. Notwithstanding anything to the contrary herein, and notwithstanding
any conversion that is then required or in process, upon any Bankruptcy Event of Default, whether occurring prior to or following
the Maturity Date, the Company shall immediately pay to the Holder an amount in cash representing (i) all outstanding Principal
multiplied by (ii) the Redemption Premium, in addition to any and all accrued and unpaid Interest and accrued and unpaid Late Charges
on such Principal and Interest, and any other amounts due hereunder, without the requirement for any notice or demand or other
action by the Holder or any other person or entity, provided that the Holder may, in its sole discretion, waive such right to receive payment upon
a Bankruptcy Event of Default, in whole or in part, and any such waiver shall not affect any other rights of the Holder hereunder,
including any other rights in respect of such Bankruptcy Event of Default, any right to conversion, and any right to payment of
the Event of Default Redemption Price or any other Redemption Price, as applicable.

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5.                 
RIGHTS UPON FUNDAMENTAL TRANSACTION.

(a)               
Assumption. The Company shall not enter into or be party to a Fundamental Transaction unless the Successor Entity,
if any, assumes in writing all of the obligations of the Company under this Note and the other Transaction Documents in accordance
with the provisions of this Section 5(a), including agreements to deliver to each holder of Notes in exchange for such Notes a
security of the Successor Entity (in form and substance reasonably satisfactory to the Holder) evidenced by a written instrument
substantially similar in form and substance to the Notes, including, without limitation, having a principal amount and interest
rate equal to the principal amounts then outstanding and the interest rates of the Notes held by such holder, having similar conversion
rights as the Notes and having similar ranking and security to the Notes. Upon the occurrence of any Fundamental Transaction, the
Successor Entity, if any, shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Note and the other Transaction Documents referring to the “Company” shall refer instead to the
Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company
under this Note and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company
herein. Upon consummation of a Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there
shall be issued upon conversion or redemption of this Note at any time after the consummation of such Fundamental Transaction,
in lieu of the Ordinary Shares (or other securities, cash, assets or other property) (except such items still issuable under Sections
6 and 13, which shall continue to be receivable thereafter) issuable upon the conversion or redemption of the Notes prior to such
Fundamental Transaction, such shares of the publicly traded common equity (or their equivalent) of the Successor Entity (or its
Parent Entity) which the Holder would have been entitled to receive upon the happening of such Fundamental Transaction had this
Note been converted immediately prior to such Fundamental Transaction (without regard to any limitations on the conversion of this
Note), as adjusted in accordance with the provisions of this Note. Notwithstanding the foregoing, the Holder may elect, at its
sole option, by delivery of written notice to the Company to waive this Section 5(a) to permit the Fundamental Transaction without
the assumption of this Note. The provisions of this Section 5(a) shall apply similarly and equally to successive Fundamental Transactions
and shall be applied without regard to any limitations on the conversion of this Note.

(b)              
Notice of a Change of Control; Redemption Right. No sooner than twenty (20) Trading Days nor later than ten (10)
Trading Days prior to the consummation of a Change of Control (the “Change of Control Date”), but not prior
to the public announcement of such Change of Control, the Company shall deliver written notice thereof via facsimile or electronic
mail and overnight courier to the Holder (a “Change of

    13 

     

    

Control Notice”, and the
date of delivery thereof, the “Change of Control Notice Date”). At any time during the period beginning after
the Holder’s receipt of a Change of Control Notice or the Holder becoming aware of a Change of Control if a Change of Control
Notice is not delivered to the Holder in accordance with the immediately preceding sentence (as applicable) and ending on the
later of twenty (20) Trading Days after (A) consummation of such Change of Control or (B) the date of receipt of such Change of
Control Notice, the Holder may require the Company to redeem all or any portion of this Note by delivering written notice thereof
(“Change of Control Redemption Notice” and the date of delivery thereof, the “Change of Control Redemption
Notice Date”) to the Company, which Change of Control Redemption Notice shall indicate the Conversion Amount the Holder
is electing to redeem. The portion of this Note subject to redemption pursuant to this Section 5(b) shall be redeemed by the Company
in cash at a price equal to the greatest of (i) the product of (w) the Change of Control Redemption Premium multiplied by (y)
the Conversion Amount being redeemed, (ii) the product of (A) the Conversion Amount being redeemed multiplied by (B) the quotient
determined by dividing (I) the greatest Closing Sale Price of the Ordinary Shares during the period beginning on the date immediately
preceding the earlier to occur of (1) the consummation of the applicable Change of Control and (2) the public announcement of
such Change of Control and ending on the date the Holder delivers the Change of Control Redemption Notice by (II) the Conversion
Price then in effect and (iii) the product of (A) the Conversion Amount being redeemed multiplied by (B) the quotient of (I) the
aggregate cash consideration and the aggregate cash value of any non-cash consideration per Ordinary Share to be paid to the holders
of the Ordinary Shares upon consummation of such Change of Control (any such non-cash consideration constituting publicly-traded
securities shall be valued at the highest of the Closing Sale Price of such securities as of the Trading Day immediately prior
to the consummation of such Change of Control, the Closing Sale Price of such securities on the Trading Day immediately following
the public announcement of such proposed Change of Control and the Closing Sale Price of such securities on the Trading Day immediately
prior to the public announcement of such proposed Change of Control) divided by (II) the Conversion Price then in effect (the
“Change of Control Redemption Price”). Redemptions required by this Section 5(b) shall be made in accordance
with the provisions of Section 10 and, other than payments to shareholders in connection with such Change of Control delivered
to such shareholders after the applicable Change of Control Notice Date and prior to the first Change of Control Redemption Notice
Date, if any, occurring thereafter, shall have priority to payments to shareholders in connection with such Change of Control.
To the extent redemptions required by this Section 5(b) are deemed or determined by a court of competent jurisdiction to be prepayments
of this Note by the Company, such redemptions shall be deemed to be voluntary prepayments. Notwithstanding anything to the contrary
in this Section 5(b), but subject to Section 3(d), until the Change of Control Redemption Price (together with any Late Charges
thereon) is paid in full, the Conversion Amount submitted for redemption under this Section 5(b) (together with any Late Charges
thereon) may be converted, in whole or in part, by the Holder into Ordinary Shares pursuant to Section 3. In the event of the
Company’s redemption of any portion of this Note under this Section 5(b), the Holder’s damages would be uncertain
and difficult to estimate because of the parties’ inability to predict future interest rates and the uncertainty of the
availability of a suitable substitute investment opportunity for the Holder. Accordingly, any redemption premium due under this
Section 5(b) is intended by the parties to be, and shall be deemed, a reasonable estimate of the Holder’s actual loss of
its investment opportunity and not as a penalty.

    14 

     

    

6.                 
RIGHTS UPON ISSUANCE OF PURCHASE RIGHTS AND OTHER CORPORATE EVENTS.

(a)               
Purchase Rights. In addition to any adjustments pursuant to Section 7 below, if at any time the Company grants, issues
or sells any Options, Convertible Securities or rights to purchase shares, warrants, securities or other property pro rata to all
or substantially all of the record holders of any class of Ordinary Shares (the “Purchase Rights”), then the
Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the
Holder could have acquired if the Holder had held the number of Ordinary Shares acquirable upon complete conversion of this Note
(without taking into account any limitations or restrictions on the convertibility of this Note and assuming for such purpose that
the Note was converted at the Conversion Price (or, on or after [ , 2019][3],
Alternate Conversion Price) as of the applicable record date) immediately prior to the date on which a record is taken for the
grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Ordinary
Shares are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that to the
extent that the Holder’s right to participate in any such Purchase Right would result in the Holder and the other Attribution
Parties exceeding the Maximum Percentage, then the Holder shall not be entitled to participate in such Purchase Right to the extent
of the Maximum Percentage (and shall not be entitled to beneficial ownership of such Ordinary Shares as a result of such Purchase
Right (and beneficial ownership) to the extent of any such excess) and such Purchase Right to such extent shall be held in abeyance
(and, if such Purchase Right has an expiration date, maturity date or other similar provision, such term shall be extended by such
number of days held in abeyance, if applicable) for the benefit of the Holder until such time or times, if ever, as its right thereto
would not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, at which time or times the Holder
shall be granted such right (and any Purchase Right granted, issued or sold on such initial Purchase Right or on any subsequent
Purchase Right held similarly in abeyance (and, if such Purchase Right has an expiration date, maturity date or other similar provision,
such term shall be extended by such number of days held in abeyance, if applicable)) to the same extent as if there had been no
such limitation).

(b)              
Other Corporate Events. In addition to and not in substitution for any other rights hereunder, prior to or concurrently
with the consummation of any Fundamental Transaction pursuant to which holders of Ordinary Shares are entitled to receive securities
or other assets with respect to or in exchange for Ordinary Shares (a “Corporate Event”), the Company shall
make appropriate provision to ensure that the Holder will thereafter have the right to receive upon a conversion of this Note,
such securities or other assets to which the Holder would have been entitled with respect to

 

[3]
Insert four month anniversary of the Issuance Date

    15 

     

    

such Ordinary Shares had such Ordinary
Shares been held by the Holder upon the consummation of such Corporate Event (without taking into account any limitations or restrictions
on the convertibility of this Note), including the issuance to the Holder of any Ordinary Shares upon a conversion of this Note
that are not required to be surrendered or exchanged in such Corporate Event; provided, that if the holders of Ordinary Shares
are entitled to make an election of a type of consideration to receive in a Corporate Event, the Company shall deliver written
notice to the Holder concurrently with any notices delivered to the stockholders (or filed with the SEC) with respect thereto and
the Holder shall have the right to elect which consideration will be available upon conversion of this Note thereafter in connection
with this Section 6 (or if the Holder fails to make such election prior to the applicable Conversion Date, the Holder shall be
deemed to have elected such consideration elected by a majority of holders of Ordinary Shares with respect to such Corporate Event).
Provision made pursuant to the preceding sentence shall be in a form and substance reasonably satisfactory to the Holder. The provisions
of this Section 6 shall apply similarly and equally to successive Corporate Events and shall be applied without regard to any limitations
on the conversion or redemption of this Note.

7.                 
RIGHTS UPON ISSUANCE OF OTHER SECURITIES.

(a)               
Adjustment of Conversion Price upon Issuance of Ordinary Shares. If and whenever on or after the Subscription Date
the Company issues or sells, or in accordance with this Section 7(a) is deemed to have issued or sold, any Ordinary Shares (including
the issuance or sale of Ordinary Shares owned or held by or for the account of the Company, but excluding any Excluded Securities
issued or sold or deemed to have been issued or sold) for a consideration per share (the “New Issuance Price”)
less than a price equal to the Conversion Price in effect immediately prior to such issuance or sale or deemed issuance or sale
(such Conversion Price then in effect is referred to herein as the “Applicable Price”) (the foregoing a “Dilutive
Issuance”), then, immediately after such Dilutive Issuance, the Conversion Price then in effect shall be reduced to an
amount equal to the New Issuance Price. For all purposes of the foregoing (including, without limitation, determining the adjusted
Conversion Price and the New Issuance Price under this Section 7(a)), the following shall be applicable:

(i)                
Issuance of Options. If the Company in any manner grants or sells any Options and the lowest price per share for
which one Ordinary Share is at any time issuable upon the exercise of any such Option or upon conversion, exercise or exchange
of any Convertible Securities issuable upon exercise of any such Option or otherwise pursuant to the terms thereof is less than
the Applicable Price, then such Ordinary Share shall be deemed to be outstanding and to have been issued and sold by the Company
at the time of the granting or sale of such Option for such price per share. For purposes of this Section 7(a)(i), the “lowest
price per share for which one Ordinary Share is at any time issuable upon the exercise of any such Option or upon conversion, exercise
or exchange of any Convertible Securities issuable upon exercise of any such Option or otherwise pursuant to the terms thereof”
shall be equal to (1) the lower of (x) the sum of the lowest amounts of consideration (if any) received or receivable by the Company
with respect to any one Ordinary Share upon the granting or sale of such Option, upon exercise of such Option and upon conversion,
exercise or

    16 

     

    

exchange of any Convertible Security
issuable upon exercise of such Option or otherwise pursuant to the terms thereof and (y) the lowest exercise price set forth in
such Option for which one Ordinary Share is issuable (or may become issuable assuming all possible market conditions) upon the
exercise of any such Options or upon conversion, exercise or exchange of any Convertible Securities issuable upon exercise of any
such Option or otherwise pursuant to the terms thereof, minus (2) the sum of all amounts paid or payable to the holder of such
Option (or any other Person) with respect to any one Ordinary Share upon the granting or sale of such Option, upon exercise of
such Option and upon conversion, exercise or exchange of any Convertible Security issuable upon exercise of such Option or otherwise
pursuant to the terms thereof plus the value of any other consideration consisting of cash, debt forgiveness, assets or any other
property received or receivable by, or benefit conferred on, the holder of such Option (or any other Person). Except as contemplated
below, no further adjustment of the Conversion Price shall be made upon the actual issuance of such Ordinary Share or of such Convertible
Securities upon the exercise of such Options or otherwise pursuant to the terms thereof or upon the actual issuance of such Ordinary
Shares upon conversion, exercise or exchange of such Convertible Securities.

(ii)              
Issuance of Convertible Securities. If the Company in any manner issues or sells any Convertible Securities and the
lowest price per share for which one Ordinary Share is at any time issuable upon the conversion, exercise or exchange thereof or
otherwise pursuant to the terms thereof is less than the Applicable Price, then such Ordinary Share shall be deemed to be outstanding
and to have been issued and sold by the Company at the time of the issuance or sale of such Convertible Securities for such price
per share. For the purposes of this Section 7(a)(ii), the “lowest price per share for which one Ordinary Share is at any
time issuable (or may become issuable assuming all possible market conditions) upon the conversion, exercise or exchange thereof
or otherwise pursuant to the terms thereof” shall be equal to (1) the lower of (x) the sum of the lowest amounts of consideration
(if any) received or receivable by the Company with respect to one Ordinary Share upon the issuance or sale of the Convertible
Security and upon conversion, exercise or exchange of such Convertible Security or otherwise pursuant to the terms thereof and
(y) the lowest conversion price set forth in such Convertible Security for which one Ordinary Share is issuable upon conversion,
exercise or exchange thereof or otherwise pursuant to the terms thereof minus (2) the sum of all amounts paid or payable to the
holder of such Convertible Security (or any other Person) with respect to any one Ordinary Share upon the issuance or sale of such
Convertible Security plus the value of any other consideration received or receivable consisting of cash, debt forgiveness, assets
or other property by, or benefit conferred on, the holder of such Convertible Security (or any other Person). Except as contemplated
below, no further adjustment of the Conversion Price shall be made upon the actual issuance of such Ordinary Shares upon conversion,
exercise or exchange of such Convertible Securities or otherwise pursuant to the terms thereof, and if any such issuance or sale
of such Convertible Securities is made upon exercise of any Options for which adjustment of the Conversion Price has been or is
to be made pursuant to other provisions of this Section 7(a), except as contemplated below, no further adjustment of the Conversion Price shall be made
by reason of such issuance or sale.

    17 

     

    

(iii)            
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the
additional consideration, if any, payable upon the issue, conversion, exercise or exchange of any Convertible Securities, or the
rate at which any Convertible Securities are convertible into or exercisable or exchangeable for Ordinary Shares increases or decreases
at any time (other than proportional changes in conversion or exercise prices, as applicable, in connection with an event referred
to in Section 7(b) below), the Conversion Price in effect at the time of such increase or decrease shall be adjusted to the Conversion
Price which would have been in effect at such time had such Options or Convertible Securities provided for such increased or decreased
purchase price, additional consideration or increased or decreased conversion rate (as the case may be) at the time initially granted,
issued or sold. For purposes of this Section 7(a)(iii), if the terms of any Option or Convertible Security that was outstanding
as of the Subscription Date are increased or decreased in the manner described in the immediately preceding sentence, then such
Option or Convertible Security and the Ordinary Shares deemed issuable upon exercise, conversion or exchange thereof shall be deemed
to have been issued as of the date of such increase or decrease. No adjustment pursuant to this Section 7(a) shall be made if such
adjustment would result in an increase of the Conversion Price then in effect.

(iv)            
Calculation of Consideration Received. If any Option and/or Convertible Security and/or Adjustment Right is issued
in connection with the issuance or sale or deemed issuance or sale of any other securities of the Company (as reasonably determined
by the Holder and the Company, the “Primary Security”, and such Option and/or Convertible Security and/or Adjustment
Right, the “Secondary Securities”), together comprising one integrated transaction (or one or more transactions
if such issuances or sales or deemed issuances or sales of securities of the Company either (A) have at least one investor or purchaser
in common, (B) are consummated in reasonable proximity to each other and/or (C) are consummated under the same plan of financing),
the aggregate consideration per Ordinary Share with respect to such Primary Security shall be deemed to be equal to the difference
of (x) the lowest price per share for which one Ordinary Share was issued (or was deemed to be issued pursuant to Section 7(a)(i)
or 7(a)(ii) above, as applicable) in such integrated transaction solely with respect to such Primary Security, minus (y) with respect
to such Secondary Securities, the sum of (I) the Black Scholes Consideration Value of each such Option, if any, (II) the fair market
value (as reasonably determined jointly by the Holder and the Company in good faith) or the Black Scholes Consideration Value,
as applicable, of such Adjustment Right, if any, and (III) the fair market value (as reasonably determined jointly by the Holder
and the Company) of such Convertible Security, if any, in each case, as determined on a per share basis in accordance with this
Section 7(a)(iv). If any Ordinary Shares, Options or Convertible Securities are issued or sold or deemed to have been issued or
sold for cash, the consideration received therefor (for the purpose of determining the consideration paid for such Ordinary Shares,
Option or Convertible Security, but not for the purpose of the calculation of the Black Scholes Consideration Value) will be

    18 

     

    

deemed to be the net amount of consideration
received by the Company therefor. If any Ordinary Shares, Options or Convertible Securities are issued or sold for a consideration
other than cash, the amount of such consideration received by the Company (for the purpose of determining the consideration paid
for such Ordinary Shares, Option or Convertible Security, but not for the purpose of the calculation of the Black Scholes Consideration
Value) will be the fair value of such consideration, except where such consideration consists of publicly traded securities, in
which case the amount of consideration received by the Company for such securities will be the arithmetic average of the VWAPs
of such security for each of the five (5) Trading Days immediately preceding the date of receipt. If any Ordinary Shares, Options
or Convertible Securities are issued to the owners of the non-surviving entity in connection with any merger in which the Company
is the surviving entity, the amount of consideration therefor (for the purpose of determining the consideration paid for such Ordinary
Shares, Option or Convertible Security, but not for the purpose of the calculation of the Black Scholes Consideration Value) will
be deemed to be the fair value of such portion of the net assets and business of the non-surviving entity as is attributable to
such Ordinary Shares, Options or Convertible Securities (as the case may be). The fair value of any consideration other than cash
or publicly traded securities will be reasonably determined jointly by the Company and the Holder. If such parties are unable to
reach agreement within ten (10) days after the occurrence of an event requiring valuation (the “Valuation Event”),
the fair value of such consideration will be determined within five (5) Trading Days after the tenth (10th) day following
such Valuation Event by an independent, reputable appraiser jointly selected by the Company and the Holder. The determination of
such appraiser shall be final and binding upon all parties absent manifest error and the fees and expenses of such appraiser shall
be borne by the Company.

(v)              
Record Date. If the Company takes a record of the holders of Ordinary Shares for the purpose of entitling them (A)
to receive a dividend or other distribution payable in Ordinary Shares, Options or in Convertible Securities or (B) to subscribe
for or purchase Ordinary Shares, Options or Convertible Securities, then such record date will be deemed to be the date of the
issuance or sale of the Ordinary Shares deemed to have been issued or sold upon the declaration of such dividend or the making
of such other distribution or the date of the granting of such right of subscription or purchase (as the case may be).

(b)              
Adjustment of Conversion Price upon Subdivision or Combination of Ordinary Shares. Without limiting any provision
of Section 4(c) or Section 7(a), if the Company at any time on or after the Subscription Date subdivides (by any share split, share
dividend, share combination, recapitalization or other similar transaction) its outstanding Ordinary Shares into a greater number
of shares, the Conversion Price in effect immediately prior to such subdivision will be proportionately reduced. Without limiting
any provision of Section 4(c) or Section 7(a), if the Company at any time on or after the Subscription Date combines
(by any share split, share dividend, share combination, recapitalization or other similar transaction) its outstanding Ordinary
Shares into a smaller number of shares, the Conversion Price in effect immediately prior to such combination will be proportionately
increased. Any adjustment pursuant to this Section 7(b) shall become effective immediately
after the effective date of such subdivision or combination. If any event requiring an adjustment under this Section 7(b) occurs
during the period that a Conversion Price is calculated hereunder, then the calculation of such Conversion Price shall be adjusted
appropriately to reflect such event.

    19 

     

    

(c)               
Holder’s Right of Adjusted Conversion Price. In addition to and not in limitation of the other provisions of
this Section 7, if the Company in any manner issues or sells or enters into any agreement to issue or sell, any Ordinary Shares,
Options or Convertible Securities (any such securities, “Variable Price Securities”), after the Subscription
Date that are issuable pursuant to such agreement or convertible into or exchangeable or exercisable for Ordinary Shares at a price
which varies or may vary with the market price of the Ordinary Shares, including by way of one or more reset(s) to a fixed price,
but exclusive of such formulations reflecting customary anti-dilution provisions (such as share splits, share combinations, share
dividends and similar transactions) (each of the formulations for such variable price being herein referred to as, the “Variable
Price”), the Company shall provide written notice thereof via facsimile and overnight courier to the Holder on the date
of such agreement and the issuance of such Convertible Securities or Options. From and after the date the Company enters into such
agreement or issues any such Variable Price Securities, the Holder shall have the right, but not the obligation, in its sole discretion
to substitute the Variable Price, as calculated pursuant to the agreements governing such Variable Price Securities, for the Conversion
Price upon conversion of this Note by designating in the Conversion Notice delivered upon any conversion of this Note that solely
for purposes of such conversion the Holder is relying on the Variable Price rather than the Conversion Price then in effect. The
Holder’s election to rely on a Variable Price for a particular conversion of this Note shall not obligate the Holder to rely
on a Variable Price for any future conversion of this Note.

(d)              
Other Events. Excluding Excluded Securities, in the event that the Company (or any Subsidiary) shall take any action
to which the provisions hereof are not strictly applicable, or, if applicable, would not operate to protect the Holder from actual
dilution or if any event occurs of the type contemplated by the provisions of this Section 7 but not expressly provided for by
such provisions, in each case which involves the issuance of any Ordinary Shares, or any rights, options, warrants or other securities
entitling holders thereof to subscribe for or purchase Ordinary Shares, at a price below the Conversion Price (including, without
limitation, the granting of share appreciation rights, phantom share rights or other rights with equity features), then the Company’s
board of directors shall in good faith determine and implement an appropriate adjustment in the Conversion Price so as to protect
the rights of the Holder, provided that no such adjustment pursuant to this Section 7(d) will increase the Conversion Price as
otherwise determined pursuant to this Section 7, provided further that if the Holder does not accept such adjustments as appropriately
protecting its interests hereunder against such dilution, then the Company’s board of directors and the Holder shall agree,
in good faith, upon an independent investment bank of nationally recognized standing to make such appropriate adjustments, whose
determination shall be final and binding absent manifest error and whose fees and expenses shall be borne by the Company.

    20 

     

    

(e)               
Calculations. All calculations under this Section 7 shall be made by rounding to the nearest cent or the nearest
1/100th of a share, as applicable. The number of Ordinary Shares outstanding at any given time shall not include shares
owned or held by or for the account of the Company, and the disposition of any such shares shall be considered an issue or sale
of Ordinary Shares.

(f)               
Voluntary Adjustment by Company. The Company may at any time during the term of this Note, with the prior written
consent of the Required Holders, reduce the then current Conversion Price of each of the Notes to any amount and for any period
of time deemed appropriate by the board of directors of the Company.

8.                 
NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by amendment of its Memorandum
of Association (as defined in the Securities Purchase Agreement), Articles of Association (as defined in the Securities Purchase
Agreement) or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue
or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms
of this Note, and will at all times in good faith carry out all of the provisions of this Note and take all action as may be required
to protect the rights of the Holder of this Note. Without limiting the generality of the foregoing or any other provision of this
Note or the other Transaction Documents, the Company (a) shall not increase the par value of any Ordinary Shares receivable
upon conversion of this Note above the Conversion Price then in effect, and (b) shall take all such actions as may be necessary
or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Ordinary Shares upon the conversion
of this Note. Notwithstanding anything herein to the contrary, if after the sixty (60) calendar day anniversary of the Issuance
Date, the Holder is not permitted to convert this Note in full for any reason (other than pursuant to restrictions set forth in
Section 3(d) hereof), the Company shall use its best efforts to promptly remedy such failure, including, without limitation, obtaining
such consents or approvals as necessary to permit such conversion into Ordinary Shares.

9.                 
RESERVATION OF AUTHORIZED SHARES.

(a)               
Reservation. So long as any Notes remain outstanding, the Company shall at all times reserve at least 150% of the
number of Ordinary Shares as shall from time to time be necessary to effect the conversion, including without limitation, Alternate
Conversions, of all of the Notes then outstanding (without regard to any limitations on conversions and assuming such Notes remain
outstanding until the Maturity Date) at the Conversion Price (or, on or after [ , 2019][4],
the Alternate Conversion Price) then in effect (the “Required Reserve Amount”). The Required Reserve Amount
(including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among the holders
of the Notes based on the original principal amount of the Notes held by each holder on the Closing Date or increase in the number
of reserved shares, as the case may be (the “Authorized Share Allocation”). In the event that a holder shall
sell or otherwise transfer any of such holder’s Notes, each transferee shall be allocated a pro rata portion of such holder’s
Authorized Share Allocation. Any Ordinary Shares reserved and allocated to any Person
which ceases to hold any Notes shall be allocated to the remaining holders of Notes, pro rata based on the principal amount of
the Notes then held by such holders.

 

[4]
Insert four month anniversary of the Issuance Date

    21 

     

    

(b)              
Insufficient Authorized Shares. If, notwithstanding Section 9(a), and not in limitation thereof, at any time while
any of the Notes remain outstanding the Company does not have a sufficient number of authorized and unreserved Ordinary Shares
to satisfy its obligation to reserve for issuance upon conversion of the Notes at least a number of Ordinary Shares equal to the
Required Reserve Amount (an “Authorized Share Failure”), then the Company shall immediately take all action
necessary to increase the Company’s authorized Ordinary Shares to an amount sufficient to allow the Company to reserve the
Required Reserve Amount for the Notes then outstanding. Without limiting the generality of the foregoing sentence, as soon as practicable
after the date of the occurrence of an Authorized Share Failure, but in no event later than seventy five (75) days after the occurrence
of such Authorized Share Failure, the Company shall hold a meeting of its shareholders or complete a consent solicitation in lieu
of a meeting for the approval of an increase in the number of authorized Ordinary Shares. In connection with such meeting, the
Company shall use its best efforts to solicit its shareholders’ approval of such increase in authorized Ordinary Shares and
to cause its board of directors to recommend to the shareholders that they approve such proposal. In the event that the Company
is prohibited from issuing Ordinary Shares pursuant to the terms of this Note due to the failure by the Company to have sufficient
Ordinary Shares available out of the authorized but unissued Ordinary Shares (such unavailable number of Ordinary Shares, the “Authorized
Failure Shares”), in lieu of taking the actions set forth above to increase the Company’s authorized Ordinary Shares
and delivering such Authorized Failure Shares to the Holder, the Company shall pay cash in exchange for the redemption of such
portion of the Conversion Amount convertible into such Authorized Failure Shares at a price equal to the sum of (i) the product
of (x) such number of Authorized Failure Shares and (y) the greatest Closing Sale Price of the Ordinary Shares on any Trading Day
during the period commencing on the date the Holder delivers the applicable Conversion Notice with respect to such Authorized Failure
Shares to the Company and ending on the date of such issuance and payment under this Section 9(a); and (ii) to the extent the Holder
purchases (in an open market transaction or otherwise) Ordinary Shares to deliver in satisfaction of a sale by the Holder of Authorized
Failure Shares, any brokerage commissions and other out-of-pocket expenses, if any, of the Holder incurred in connection therewith.
Nothing contained in Section 9(a) or this Section 9(b) shall limit any obligations of the Company under any provision of the Securities
Purchase Agreement.

10.             
REDEMPTIONS.

(a)               
Mechanics. The Company shall deliver the applicable Event of Default Redemption Price to the Holder in cash within
five (5) Business Days after the Company’s receipt of the Holder’s Event of Default Redemption Notice. If the Holder
has submitted a Change of Control Redemption Notice in accordance with Section 5(b), the Company shall deliver the applicable Change
of Control Redemption Price to the Holder in cash concurrently with the consummation of such Change of Control if such

    22 

     

    

notice is received prior to the consummation
of such Change of Control and within five (5) Business Days after the Company’s receipt of such notice otherwise. Notwithstanding
anything herein to the contrary, in connection with any redemption hereunder at a time the Holder is entitled to receive a cash
payment under any of the other Transaction Documents, at the option of the Company delivered in writing to the Holder (or, if the
Company has failed to pay such amount when due, at the option of the Holder delivered in writing to the Company), the applicable
Redemption Price hereunder shall be increased by the amount of such cash payment owed to the Holder under such other Transaction
Document and, upon payment in full or conversion in accordance herewith, shall satisfy the Company’s payment obligation under
such other Transaction Document. In the event of a redemption of less than all of the Conversion Amount of this Note, the Company
shall promptly cause to be issued and delivered to the Holder a new Note (in accordance with Section 16(d)) representing the outstanding
Principal which has not been redeemed. In the event that the Company does not pay the applicable Redemption Price to the Holder
within the time period required, at any time thereafter and until the Company pays such unpaid Redemption Price in full, the Holder
shall have the option, in lieu of redemption, to require the Company to promptly return to the Holder all or any portion of this
Note representing the Conversion Amount that was submitted for redemption and for which the applicable Redemption Price (together
with any Late Charges thereon) has not been paid. Upon the Company’s receipt of such notice, (x) the applicable Redemption
Notice shall be null and void with respect to such Conversion Amount, (y) the Company shall immediately return this Note, or issue
a new Note (in accordance with Section 16(d)), to the Holder, and in each case the principal amount of this Note or such new
Note (as the case may be) shall be increased by an amount equal to the difference between (1) the applicable Redemption Price (as
the case may be, and as adjusted pursuant to this Section 10, if applicable) minus (2) the Principal portion of the Conversion
Amount submitted for redemption and (z) the Conversion Price of this Note or such new Notes (as the case may be) shall be automatically
adjusted with respect to each conversion effected thereafter by the Holder to the lowest of (A) the Conversion Price as in effect
on the date on which the applicable Redemption Notice is voided, (B) 75% of the lowest Closing Bid Price of the Ordinary Shares
during the period beginning on and including the date on which the applicable Redemption Notice is delivered to the Company and
ending on and including the date on which the applicable Redemption Notice is voided and (C) 75% of the quotient of (I) the sum
of the five (5) lowest VWAPs of the Ordinary Shares during the twenty (20) consecutive Trading Day period ending and including
the Trading Day immediately preceding the applicable Conversion Date divided by (II) five (5) (it being understood and agreed that
all such determinations shall be appropriately adjusted for any share dividend, share split, share combination or other similar
transaction during such period). The Holder’s delivery of a notice voiding a Redemption Notice and exercise of its rights
following such notice shall not affect the Company’s obligations to make any payments of Late Charges which have accrued
prior to the date of such notice with respect to the Conversion Amount subject to such notice.

    23 

     

    

(b)              
Redemption by Other Holders. Upon the Company’s receipt of notice from any of the holders of the Other Notes
for redemption or repayment as a result of an event or occurrence substantially similar to the events or occurrences described
in Section 4(b) or Section 5(b) (each, an “Other
Redemption Notice”), the Company shall immediately, but no later than one (1) Business Day of its receipt thereof, forward
to the Holder by facsimile or electronic mail a copy of such notice. If the Company receives a Redemption Notice and one or more
Other Redemption Notices, during the seven (7) Business Day period beginning on and including the date which is two (2) Business
Days prior to the Company’s receipt of the Holder’s applicable Redemption Notice and ending on and including the date
which is two (2) Business Days after the Company’s receipt of the Holder’s applicable Redemption Notice and the Company
is unable to redeem all principal, interest and other amounts designated in such Redemption Notice and such Other Redemption Notices
received during such seven (7) Business Day period, then the Company shall redeem a pro rata amount from each holder of the Notes
(including the Holder) based on the principal amount of the Notes submitted for redemption pursuant to such Redemption Notice and
such Other Redemption Notices received by the Company during such seven (7) Business Day period.

11.             
VOTING RIGHTS. The Holder shall have no voting rights as the holder of this Note, except as required by law (including,
without limitation, The Isle of Man Companies Act 2006) and as expressly provided in this Note.

12.             
COVENANTS. Until all of the Notes have been converted, redeemed or otherwise satisfied in accordance with their terms,
(a) the Company shall not incur, or permit to exist, any Indebtedness of the Company or any of its Subsidiaries that limits or
prohibits any term or condition of this Note or any other Transaction Document or result in, or would reasonably be expected to
result in, a breach or default under the Notes, including, without limitation, (i) any prohibition of any payment in cash of any
obligation hereunder or under any other Transaction Document when required to be paid in accordance herewith or therewith and (ii)
any limitation on conversion of any Ordinary Shares in accordance herewith or (b) issue any Notes (other than as contemplated by
the Securities Purchase Agreement and the Notes) or (c) issue any other securities (not including Indebtedness that is not, directly
or indirectly, convertible into Ordinary Shares or other share capital of the Company) that would cause, or would reasonably be
expected to cause, a breach or default under the Notes.

13.             
DISTRIBUTION OF ASSETS. Excluding any applicable portion of any Distributions (as defined below) that is reflected,
in full, in adjustments to the Conversion Price of this Note in accordance with Section 7, if the Company shall declare or make
any dividend or other distributions of its assets (or rights to acquire its assets) to any or all holders of Ordinary Shares,
by way of return of capital or otherwise (including without limitation, any distribution of cash, shares or other securities,
property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other
similar transaction) (the “Distributions”), then the Holder will be entitled to such Distributions as if the
Holder had held the number of Ordinary Shares acquirable upon complete conversion of this Note (without taking into account any
limitations or restrictions on the convertibility of this Note and assuming for such purpose that the Note was converted at the
Conversion Price (or, on or after [ , 2019][5],
the Alternate Conversion Price) as of the applicable record date) immediately prior to the date on which a record is taken for
such Distribution or, if no such record is taken, the date as of

 

[5]
Insert four month anniversary of the Issuance Date

    24 

     

    

which the record holders of Ordinary Shares
are to be determined for such Distributions (provided, however, that to the extent that the Holder’s right to participate
in any such Distribution would result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, then the
Holder shall not be entitled to participate in such Distribution to the extent of the Maximum Percentage (and shall not be entitled
to beneficial ownership of such Ordinary Shares as a result of such Distribution (and beneficial ownership) to the extent of any
such excess) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time or times,
if ever, as its right thereto would not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage,
at which time or times the Holder shall be granted such Distribution (and any Distributions declared or made on such initial Distribution
or on any subsequent Distribution held similarly in abeyance) to the same extent as if there had been no such limitation).

14.             
AMENDING THE TERMS OF THIS NOTE. The prior written consent of the holders of Notes representing at least fifty-one
percent (51%) of the aggregate principal amount of the Notes then outstanding shall be required for any change, waiver or amendment
to this Note (other than Section 3(d)(i), which may not be amended, modified or waived hereunder) (the “Required Holders”).
Any change, waiver or amendment so approved shall be binding upon all existing and future holders of this Note and any Other Notes;
provided, however, that no such change, waiver or, as applied to any of the Notes held by any particular holder of Notes, shall,
without the written consent of that particular holder, (i) reduce the amount of Principal, reduce the amount of accrued and unpaid
Interest, or extend the Maturity Date, of the Notes, (ii) disproportionally and adversely affect any rights under the Notes of
any holder of Notes; or (iii) modify any of the provisions of, or impair the right of any holder of Notes under, this Section 14.

15.             
TRANSFER. Subject in all respects to Section 3(c)(iii), this Note and any Ordinary Shares issued upon conversion
of this Note may be offered, sold, assigned or transferred by the Holder without the consent of the Company.

16.             
REISSUANCE OF THIS NOTE.

(a)               
Transfer. If this Note is to be transferred, the Holder shall surrender this Note to the Company, whereupon the Company
will forthwith issue and deliver upon the order of the Holder a new Note (in accordance with Section 16(d)), registered as the
Holder may request, representing the outstanding Principal being transferred by the Holder and, if less than the entire outstanding
Principal is being transferred, a new Note (in accordance with Section 16(d)) to the Holder representing the outstanding Principal
not being transferred. The Holder and any assignee, by acceptance of this Note, acknowledge and agree that, by reason of the provisions
of Section 3(c)(iii) following conversion or redemption of any portion of this Note, the outstanding Principal represented by this
Note may be less than the Principal stated on the face of this Note.

(b)              
Lost, Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of
the loss, theft, destruction or mutilation of this Note (as to which a written certification and the indemnification contemplated
below shall suffice as such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the
Holder to the Company in customary and reasonable form and, in the case of mutilation, upon
surrender and cancellation of this Note, the Company shall execute and deliver to the Holder a new Note (in accordance with Section
16(d)) representing the outstanding Principal.

    25 

     

    

(c)               
Note Exchangeable for Different Denominations. This Note is exchangeable, upon the surrender hereof by the Holder
at the principal office of the Company, for a new Note or Notes (in accordance with Section 16(d) and in principal amounts of at
least $1,000) representing in the aggregate the outstanding Principal of this Note, and each such new Note will represent such
portion of such outstanding Principal as is designated by the Holder at the time of such surrender.

(d)              
Issuance of New Notes. Whenever the Company is required to issue a new Note pursuant to the terms of this Note, such
new Note (i) shall be of like tenor with this Note, (ii) shall represent, as indicated on the face of such new Note, the Principal
remaining outstanding (or in the case of a new Note being issued pursuant to Section 16(a) or Section 16(c), the Principal designated
by the Holder which, when added to the principal represented by the other new Notes issued in connection with such issuance, does
not exceed the Principal remaining outstanding under this Note immediately prior to such issuance of new Notes), (iii) shall have
an issuance date, as indicated on the face of such new Note, which is the same as the Issuance Date of this Note, (iv) shall have
the same rights and conditions as this Note, and (v) shall represent accrued and unpaid Interest and Late Charges on the Principal
and Interest of this Note, from the Issuance Date.

17.             
REMEDIES, CHARACTERIZATIONS, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Note
shall be cumulative and in addition to all other remedies available under this Note and any of the other Transaction Documents
at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit
the Holder’s right to pursue actual and consequential damages for any failure by the Company to comply with the terms of
this Note. No failure on the part of the Holder to exercise, and no delay in exercising, any right, power or remedy hereunder shall
operate as a waiver thereof; nor shall any single or partial exercise by the Holder of any right, power or remedy preclude any
other or further exercise thereof or the exercise of any other right, power or remedy. In addition, the exercise of any right or
remedy of the Holder at law or equity or under this Note or any of the documents shall not be deemed to be an election of Holder’s
rights or remedies under such documents or at law or equity. The Company covenants to the Holder that there shall be no characterization
concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments,
conversion and the like (and the computation thereof) shall be the amounts to be received by the Holder and shall not, except as
expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company acknowledges
that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such
breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the Holder shall
be entitled, in addition to all other available remedies, to specific performance and/or temporary, preliminary and permanent injunctive
or other equitable relief from any court of competent jurisdiction in any such case without the necessity of proving actual damages
and without posting a bond or other security. The Company
shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the
Company’s compliance with the terms and conditions of this Note (including, without limitation, compliance with Section 7).

    26 

     

    

18.             
PAYMENT OF COLLECTION, ENFORCEMENT AND OTHER COSTS. If (a) this Note is placed in the hands of an attorney for collection
or enforcement or is collected or enforced through any legal proceeding or the Holder otherwise takes action to collect amounts
due under this Note or to enforce the provisions of this Note or (b) there occurs any bankruptcy, reorganization, receivership
of the Company or other proceedings affecting Company creditors’ rights and involving a claim under this Note, then the Company
shall pay the costs incurred by the Holder for such collection, enforcement or action or in connection with such bankruptcy, reorganization,
receivership or other proceeding, including, without limitation, attorneys’ fees and disbursements. The Company expressly
acknowledges and agrees that no amounts due under this Note shall be affected, or limited, by the fact that the purchase price
paid for this Note was less than the original Principal amount hereof.

19.             
CONSTRUCTION; HEADINGS. This Note shall be deemed to be jointly drafted by the Company and the initial Holder and
shall not be construed against any such Person as the drafter hereof. The headings of this Note are for convenience of reference
and shall not form part of, or affect the interpretation of, this Note. Unless the context clearly indicates otherwise, each pronoun
herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,”
“includes,” “include” and words of like import shall be construed broadly as if followed by the words “without
limitation.” The terms “herein,” “hereunder,” “hereof” and words of like import refer
to this entire Note instead of just the provision in which they are found. Unless expressly indicated otherwise, all section references
are to sections of this Note. Terms used in this Note and not otherwise defined herein, but defined in the other Transaction Documents,
shall have the meanings ascribed to such terms on the Closing Date in such other Transaction Documents unless otherwise consented
to in writing by the Holder.

20.             
FAILURE OR INDULGENCE NOT WAIVER. No failure or delay on the part of the Holder in the exercise of any power, right
or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof or of any other right, power or privilege. No waiver shall be effective unless
it is in writing and signed by an authorized representative of the waiving party. Notwithstanding the foregoing, nothing contained
in this Section 20 shall permit any waiver of any provision of Section 3(d).

21.             
DISPUTE RESOLUTION.

(a)               
Submission to Dispute Resolution.

(i)                
In the case of a dispute relating to a Closing Bid Price, a Closing Sale Price, a Conversion Price, an Alternate Conversion
Price, a Black Scholes Consideration Value, a VWAP or a fair market value or the arithmetic calculation of a Conversion Rate, or
the applicable Redemption Price (as the case may be)

    27 

     

    

(including, without limitation, a dispute
relating to the determination of any of the foregoing), the Company or the Holder (as the case may be) shall submit the dispute
to the other party via facsimile or electronic mail (A) if by the Company, within two (2) Business Days after the occurrence of
the circumstances giving rise to such dispute or (B) if by the Holder at any time after the Holder learned of the circumstances
giving rise to such dispute. If the Holder and the Company are unable to promptly resolve such dispute relating to such Closing
Bid Price, such Closing Sale Price, such Conversion Price, such Alternate Conversion Price, such Black Scholes Consideration Value,
such VWAP or such fair market value, or the arithmetic calculation of such Conversion Rate or such applicable Redemption Price
(as the case may be), at any time after the second (2nd) Business Day following such initial notice by the Company or
the Holder (as the case may be) of such dispute to the Company or the Holder (as the case may be), then the Holder may, at its
sole option, select an independent, reputable investment bank to resolve such dispute.

(ii)              
The Holder and the Company shall each deliver to such investment bank (A) a copy of the initial dispute submission so delivered
in accordance with the first sentence of this Section 21 and (B) written documentation supporting its position with respect to
such dispute, in each case, no later than 5:00 p.m. (New York time) by the fifth (5th) Business Day immediately following
the date on which the Holder selected such investment bank (the “Dispute Submission Deadline”) (the documents
referred to in the immediately preceding clauses (A) and (B) are collectively referred to herein as the “Required Dispute
Documentation”) (it being understood and agreed that if either the Holder or the Company fails to so deliver all of the
Required Dispute Documentation by the Dispute Submission Deadline, then the party who fails to so submit all of the Required Dispute
Documentation shall no longer be entitled to (and hereby waives its right to) deliver or submit any written documentation or other
support to such investment bank with respect to such dispute and such investment bank shall resolve such dispute based solely on
the Required Dispute Documentation that was delivered to such investment bank prior to the Dispute Submission Deadline). Unless
otherwise agreed to in writing by both the Company and the Holder or otherwise requested by such investment bank, neither the Company
nor the Holder shall be entitled to deliver or submit any written documentation or other support to such investment bank in connection
with such dispute (other than the Required Dispute Documentation).

(iii)            
The Company and the Holder shall cause such investment bank to determine the resolution of such dispute and notify the Company
and the Holder of such resolution no later than ten (10) Business Days immediately following the Dispute Submission Deadline. The
fees and expenses of such investment bank shall be borne solely by the Company, and such investment bank’s resolution of
such dispute shall be final and binding upon all parties absent manifest error.

    28 

     

    

(b)              
Miscellaneous. The Company expressly acknowledges and agrees that (i) this Section 21 constitutes an agreement to
arbitrate between the Company and the Holder (and constitutes an arbitration
agreement) under § 7501, et seq. of the New York Civil Practice Law and Rules (“CPLR”) and that the Holder
is authorized to apply for an order to compel arbitration pursuant to CPLR § 7503(a) in order to compel compliance with this
Section 21, (ii) a dispute relating to a Conversion Price includes, without limitation, disputes as to (A) whether an issuance
or sale or deemed issuance or sale of Ordinary Shares occurred under Section 7(a), (B) the consideration per share at which an
issuance or deemed issuance of Ordinary Shares occurred, (C) whether any issuance or sale or deemed issuance or sale of Ordinary
Shares was an issuance or sale or deemed issuance or sale of Excluded Securities, (D) whether an agreement, instrument, security
or the like constitutes and Option or Convertible Security and (E) whether a Dilutive Issuance occurred, (iii) the terms of this
Note and each other applicable Transaction Document shall serve as the basis for the selected investment bank’s resolution
of the applicable dispute, such investment bank shall be entitled (and is hereby expressly authorized) to make all findings, determinations
and the like that such investment bank determines are required to be made by such investment bank in connection with its resolution
of such dispute and in resolving such dispute such investment bank shall apply such findings, determinations and the like to the
terms of this Note and any other applicable Transaction Documents, (iv) the Holder (and only the Holder), in its sole discretion,
shall have the right to submit any dispute described in this Section 21 to any state or federal court sitting in The City of New
York, Borough of Manhattan in lieu of utilizing the procedures set forth in this Section 21 and (v) nothing in this Section 21
shall limit the Holder from obtaining any injunctive relief or other equitable remedies (including, without limitation, with respect
to any matters described in this Section 21).

22.             
NOTICES; CURRENCY; PAYMENTS.

(a)               
Notices. Whenever notice is required to be given under this Note, unless otherwise provided herein, such notice shall
be given in accordance with Section 9(f) of the Securities Purchase Agreement. The Company shall provide the Holder with prompt
written notice of all actions taken pursuant to this Note, including in reasonable detail a description of such action and the
reason therefore. Without limiting the generality of the foregoing, the Company will give written notice to the Holder (i) immediately
upon any adjustment of the Conversion Price, setting forth in reasonable detail, and certifying, the calculation of such adjustment
and (ii) at least fifteen (15) days prior to the date on which the Company closes its books or takes a record (A) with respect
to any dividend or distribution upon the Ordinary Shares, (B) with respect to any grant, issuances, or sales of any Options, Convertible
Securities or rights to purchase shares, warrants, securities or other property to holders of Ordinary Shares or (C) for determining
rights to vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in each case that such information
shall be made known to the public prior to or in conjunction with such notice being provided to the Holder.

(b)              
Currency. All dollar amounts referred to in this Note are in United States Dollars (“U.S. Dollars”),
and all amounts owing under this Note shall be paid in U.S. Dollars. All amounts denominated in other currencies (if any) shall
be converted into the U.S. Dollar equivalent amount in accordance with the Exchange Rate on the date of calculation. “Exchange
Rate” means, in relation to any amount of currency to be converted into U.S. Dollars pursuant to
this Note, the U.S. Dollar exchange rate as published in the Wall Street Journal on the relevant date of calculation (it being
understood and agreed that where an amount is calculated with reference to, or over, a period of time, the date of calculation
shall be the final date of such period of time).

    29 

     

    

(c)               
Payments. Whenever any payment of cash is to be made by the Company to any Person pursuant to this Note, unless otherwise
expressly set forth herein, such payment shall be made in lawful money of the United States of America by a certified check drawn
on the account of the Company and sent via overnight courier service to such Person at such address as previously provided to the
Company in writing (which address, in the case of each of the Buyers, shall initially be as set forth on the Schedule of Buyers
attached to the Securities Purchase Agreement), provided that the Holder may elect to receive a payment of cash via wire transfer
of immediately available funds by providing the Company with prior written notice setting out such request and the Holder’s
wire transfer instructions. 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 day which is a Business Day. Any amount of Principal or other
amounts due under the Transaction Documents which is not paid when due (except to the extent such amounts are then incurring Interest
at the Default Rate hereunder) shall result in a late charge being incurred and payable by the Company in an amount equal to interest
on such amount at the rate of six percent (6%) per annum from the date such amount was due until the same is paid in full (“Late
Charge”).

23.             
CANCELLATION. After all Principal, accrued Interest, Late Charges and other amounts at any time owed on this Note
have been paid in full, this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation
and shall not be reissued.

24.             
WAIVER OF NOTICE. To the extent permitted by law, the Company hereby irrevocably waives demand, notice, presentment,
protest and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this
Note and the Securities Purchase Agreement.

25.             
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 internal laws of the State of New York, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the State of New York. Except as otherwise required
by Section 21 above, the Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with
any transaction contemplated hereby 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. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained

    30 

     

    

herein (i) shall be deemed or operate to preclude
the Holder from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s
obligations to the Holder, to realize on any collateral or any other security for such obligations, or to enforce a judgment or
other court ruling in favor of the Holder or (ii) shall limit, or shall be deemed or construed to limit, any provision of Section
21. The Company hereby appoints Prem Parameswaran, at 550 County Avenue, Secaucus, New Jersey  07094, as its agent for service
of process in New York. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL
FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED
HEREBY. The choice of the laws of the State of New York as the governing law of this Note is a valid choice of law and would
be recognized and given effect to in any action brought before a court of competent jurisdiction in the Isle of Man or such other
jurisdiction applicable to the Company or any of its Subsidiaries except for those laws (i) which such court considers to be procedural
in nature, (ii) which are revenue or penal laws or (iii) the application of which would be inconsistent with public policy, as
such term is interpreted under the laws of the Isle of Man or such other jurisdiction applicable to the Company or any of its Subsidiaries.
The Company or any of their respective properties, assets or revenues does not have any right of immunity under Isle of Man or
such other jurisdiction applicable to the Company or any of its Subsidiaries or New York law, from any legal action, suit or proceeding,
from the giving of any relief in any such legal action, suit or proceeding, from set-off or counterclaim, from the jurisdiction
of any Isle of Man or such other jurisdiction applicable to the Company or any of its Subsidiaries or any New York or United States
federal court, from service of process, attachment upon or prior to judgment, or attachment in aid of execution of judgment, or
from execution of a judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of a judgment,
in any such court, with respect to its obligations, liabilities or any other matter under or arising out of or in connection with
this Note; and, to the extent that the Company, or any of its properties, assets or revenues may have or may hereafter become entitled
to any such right of immunity in any such court in which proceedings may at any time be commenced, the Company hereby waives such
right to the extent permitted by law and hereby consents to such relief and enforcement as provided in this Note.

26.             
JUDGMENT CURRENCY.

(a)               
If for the purpose of obtaining or enforcing judgment against the Company in any court in any jurisdiction it becomes necessary
to convert into any other currency (such other currency being hereinafter in this Section 26 referred to as the “Judgment
Currency”) an amount due in U.S. dollars under this Note, the conversion shall be made at the Exchange Rate prevailing
on the Trading Day immediately preceding:

(i)                
the date actual payment of the amount due, in the case of any proceeding in the courts of New York or in the courts of any
other jurisdiction that will give effect to such conversion being made on such date: or

(ii)              
the date on which the foreign court determines, in the case of any proceeding in the courts of any other jurisdiction (the
date as of which such conversion is made pursuant to this Section
26(a)(ii) being hereinafter referred to as the “Judgment Conversion Date”).

    31 

     

    

(b)              
If in the case of any proceeding in the court of any jurisdiction referred to in Section 26(a)(ii) above, there is a change
in the Exchange Rate prevailing between the Judgment Conversion Date and the date of actual payment of the amount due, the applicable
party shall pay such adjusted amount as may be necessary to ensure that the amount paid in the Judgment Currency, when converted
at the Exchange Rate prevailing on the date of payment, will produce the amount of US dollars which could have been purchased with
the amount of Judgment Currency stipulated in the judgment or judicial order at the Exchange Rate prevailing on the Judgment Conversion
Date.

(c)               
Any amount due from the Company under this provision shall be due as a separate debt and shall not be affected by judgment
being obtained for any other amounts due under or in respect of this Note.

27.             
SEVERABILITY. If any provision of this Note is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Note so long as this Note as so modified continues
to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited
nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations
or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the
parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

28.             
MAXIMUM PAYMENTS. Without limiting Section 9(d) of the Securities Purchase Agreement, nothing contained herein shall
be deemed to establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable
law. In the event that the rate of interest required to be paid or other charges hereunder exceed the maximum permitted by such
law, any payments in excess of such maximum shall be credited against amounts owed by the Company to the Holder and thus refunded
to the Company.

29.             
CERTAIN DEFINITIONS. For purposes of this Note, the following terms shall have the following meanings:

(a)               
“1933 Act” means the Securities Act of 1933, as amended, and the rules and regulations thereunder.

(b)              
“1934 Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.

    32 

     

    

(c)               
 “Adjustment Right” means any right granted with respect to any securities issued in connection with,
or with respect to, any issuance or sale (or deemed issuance or sale in accordance with Section
7) of Ordinary Shares (other than rights of the type described in Section 6(a) hereof) that could result in a decrease in the net
consideration received by the Company in connection with, or with respect to, such securities (including, without limitation, any
cash settlement rights, cash adjustment or other similar rights).

(d)              
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls,
is controlled by, or is under common control with, such Person, it being understood for purposes of this definition that “control”
of a Person means the power directly or indirectly either to vote 10% or more of the shares having ordinary voting power for the
election of directors of such Person or direct or cause the direction of the management and policies of such Person whether by
contract or otherwise.

(e)               
“Alternate Conversion Price” means, with respect to any Alternate Optional Conversion that price which
shall be the lowest of (i) the applicable Conversion Price as in effect on the applicable Conversion Date of the applicable Alternate
Conversion, and (ii) 90% of the lowest VWAP of the Ordinary Shares on any Trading Day during the five (5) Trading Day period ending
and including the Trading Day immediately preceding the delivery or deemed delivery of the applicable Conversion Notice (such period,
the “Alternate Conversion Measuring Period”). All such determinations to be appropriately adjusted for any share
dividend, share split, share combination, reclassification or similar transaction that proportionately decreases or increases the
Ordinary Shares during such Alternate Conversion Measuring Period.

(f)               
“Alternate Default Conversion Price” means, with respect to any Alternate Event of Default Conversion
that price which shall be the lowest of (i) the applicable Conversion Price as in effect on the applicable Conversion Date of the
applicable Alternate Event of Default Conversion, and (ii) 80% of the lowest VWAP of the Ordinary Shares on any Trading Day during
the five (5) Trading Day period ending and including the Trading Day immediately preceding the delivery or deemed delivery of the
applicable Conversion Notice (such period, the “Alternate Default Conversion Measuring Period”). All such determinations
to be appropriately adjusted for any share dividend, share split, share combination, reclassification or similar transaction that
proportionately decreases or increases the Ordinary Shares during such Alternate Default Conversion Measuring Period.

(g)              
 “Approved Share Plan” means any employee benefit plan which has been approved by the board of directors
of the Company prior to or subsequent to the Subscription Date pursuant to which Ordinary Shares and standard options to purchase
Ordinary Shares may be issued to any employee, officer or director for services provided to the Company in their capacity as such.

    33 

     

    

(h)               “Attribution
Parties” means, collectively, the following Persons and entities: (i) any investment vehicle, including, any funds,
feeder funds or managed accounts, currently, or from time to time after the Issuance Date, directly or indirectly managed or
advised by the Holder’s investment manager or any of its Affiliates or principals, (ii) any direct or
indirect Affiliates of the Holder or any of the foregoing that would or could be aggregated with the Holder’s and the
other Attribution Parties for purposes of Section 13(d) of the 1934 Act , (iii) any Person acting or who could be deemed to
be acting as a Group together with the Holder or any of the foregoing and (iv) any other Persons whose beneficial ownership
of the Company’s Ordinary Shares would or could be aggregated with the Holder’s and the other Attribution Parties
for purposes of Section 13(d) of the 1934 Act. For clarity, the purpose of the foregoing is to subject collectively the
Holder and all other Attribution Parties to the Maximum Percentage.

(i)                
“B Ordinary Shares” means (i) the Company’s B ordinary shares, £0.30 par value per share,
and (ii) any share capital into which such ordinary shares shall have been changed or any share capital resulting from a reclassification
of such B ordinary shares.

(j)                
“Black Scholes Consideration Value” means the value of the applicable Option, Convertible Security or
Adjustment Right (as the case may be) as of the date of issuance thereof calculated using the Black Scholes Option Pricing Model
obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to the Closing Sale
Price of the Ordinary Shares on the Trading Day immediately preceding the public announcement of the execution of definitive documents
with respect to the issuance of such Option, Convertible Security or Adjustment Right (as the case may be), (ii) a risk-free interest
rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of such Option, Convertible Security or Adjustment
Right (as the case may be) as of the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may
be), (iii) a zero cost of borrow and (iv) an expected volatility equal to the greater of 100% and the 30 day volatility obtained
from the “HVT” function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day
immediately following the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be).

(k)              
“Bloomberg” means Bloomberg, L.P.

(l)                
“Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in The
City of New York are authorized or required by law to remain closed.

(m)            
“Change of Control” means any Fundamental Transaction other than (i) any merger of the Company or any
of its, direct or indirect, wholly-owned Subsidiaries with or into any of the foregoing Persons, (ii) any reorganization, recapitalization
or reclassification of the Voting Shares in which the Founders Group holds at least a majority of the voting power of the surviving
entity (or entities with the authority or voting power to elect the members of the board of directors (or their equivalent
if other than a corporation) of such entity or entities) after such reorganization, recapitalization or reclassification, (iii)
pursuant to a migratory merger effected solely for the purpose of changing the jurisdiction of incorporation of the Company or
any of its Subsidiaries or (iv) a merger in connection with a bona fide acquisition by the Company of any Person in which the Founders
Group collectively own at least 51% of the Voting Shares of the Company after such merger.

    34 

     

    

(n)              
“Change of Control Redemption Premium” means 105%.

(o)              
“Closing Bid Price” and “Closing Sale Price” means, for any security as of any date,
the last closing bid price and last closing trade price, respectively, for such security on the Principal Market, as reported by
Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing bid price
or the closing trade price (as the case may be) then the last bid price or last trade price, respectively, of such security prior
to 4:00:00 p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange
or trading market for such security, the last closing bid price or last trade price, respectively, of such security on the principal
securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do
not apply, the last closing bid price or last trade price, respectively, of such security in the over-the-counter market on the
electronic bulletin board for such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively,
is reported for such security by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers
for such security as reported in the “pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC). If the Closing
Bid Price or the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the
Closing Bid Price or the Closing Sale Price (as the case may be) of such security on such date shall be the fair market value as
mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value
of such security, then such dispute shall be resolved in accordance with the procedures in Section 21. All such determinations
shall be appropriately adjusted for any share splits, share dividends, share combinations, recapitalizations or other similar transactions
during such period.

(p)              
“Closing Date” shall have the meaning set forth in the Securities Purchase Agreement, which date is the
date the Company initially issued Notes pursuant to the terms of the Securities Purchase Agreement.

(q)              
“Convertible Securities” means any shares or other security (other than Options) that is at any time
and under any circumstances, directly or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles
the holder thereof to acquire, any Ordinary Shares.

(r)                
 “Eligible Market” means the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Select Market,
the Nasdaq Global Market or the Principal Market.

(s)               
“Excluded Securities” means (i) Ordinary Shares or other rights to acquire or to purchase Ordinary Shares
issued to directors, officers or employees of the Company for services rendered to the Company in their capacity as such pursuant
to an Approved Share Plan (as defined above), provided that the exercise price of any option is not lowered, none of such awards
are amended to increase the number of shares issuable

    35 

     

    

thereunder and none of the terms or conditions
of any such awards are otherwise materially changed in any manner that adversely affects any of the Buyers, other than, in each
case, pursuant to any anti-dilution or other provision of the Approved Share Plan or form of award agreement pursuant to which
such award was granted as in effect as of the Subscription Date; (ii) Ordinary Shares issued upon the conversion or exercise of
Convertible Securities (other than awards issued pursuant to an Approved Share Plan that are covered by clause (i) above) issued
prior to the Subscription Date, provided that the conversion price of any such Convertible Securities (other than awards issued
pursuant to an Approved Share Plan that are covered by clause (i) above) is not lowered (other than pursuant to any anti-dilution
adjustment or other provision set forth in the documents governing such Convertible Security as in effect as of the Subscription
Date), none of such Convertible Securities (other than awards issued pursuant to an Approved Share Plan that are covered by clause
(i) above) are amended to increase the number of shares issuable thereunder and none of the terms or conditions of any such Convertible
Securities (other than awards issued pursuant to an Approved Share Plan that are covered by clause (i) above) are otherwise materially
changed in any manner that adversely affects any of the Buyers (other than pursuant to any anti-dilution adjustment or other provision
set forth in the documents governing such Convertible Security as in effect as of the Subscription Date); (iii) the Ordinary Shares
issuable upon conversion of the Notes or otherwise pursuant to the terms of the Notes; (iv) the Ordinary Shares issuable upon exercise
of the 2017 Note (including, without limitation after giving effect to Section 1 of the Securities Purchase Agreement), (v) the
Ordinary Shares issuable upon exercise of the 2017 Warrant; and (vi) Ordinary Shares, Options and/or Convertible Securities issued
pursuant to strategic alliances, strategic mergers and acquisitions, strategic partnerships, strategic license agreements and other
similar transactions, provided that (A) the primary purpose of such issuance is not to raise capital, (B) the purchaser or acquirer
of such Ordinary Shares, Options and/or Convertible Securities in such issuance solely consists of the actual participants in such
strategic transaction or the shareholders, partners, members or Affiliates of the such participants, and (C) to the extent there
are multiple participants in such transaction, the number or amount (as the case may be) of such Ordinary Shares, Options and/or
Convertible Securities issued to such Person by the Company in such transaction shall not be disproportionate to such Person’s
actual participation in such strategic transaction.

(t)                
“Family Controlled Entity” means (i) any company in which Permitted Holders or any Permitted Holder hold
(collectively or individually) the power to elect all of the members of the board of directors of such entity and hold, collectively,
at least a majority of the value of its issued shares; (ii) any partnership in which Permitted Holders or any Permitted Holder
hold (collectively or individually) the sole right to direct the voting of B Ordinary Shares held by such partnership and hold,
collectively, at least a majority of the economic interest in the partnership interests in such partnership; and (iii) any limited
liability or similar company if Permitted Holders or any Permitted Holder hold (collectively or individually) the sole right to
direct the voting of B Ordinary Shares held by such limited liability or similar company and hold, collectively, at least a majority
of the economic interest of such limited liability or similar company.

(u)              
“Family Trust” means any trust the sole beneficiaries of which are Kishore Lulla, his spouse, any of their
descendants, spouses of any descendants and their respective estates, guardians, or conservators.

    36 

     

    

(v)              
“Founders Group” means (i) Eros Ventures Limited, (ii) Beech Investments Limited, (iii) the trustees
for the time being of the Ganges Trust, (iv) Kishore Lulla and his estate, guardian, or conservator, (v) any Family Controlled
Entity, (vi) the trustees, solely in their respective capacities as such, of any Family Trust and (vii) any custodian or bare nominee
of any person referenced in clauses (i) through (vi) herein (each, a “Permitted Holder”).

(w)            
“Fundamental Transaction” means (A) that the Company shall, directly or indirectly, including through
subsidiaries, Affiliates or otherwise, in one or more related transactions, (i) consolidate or merge with or into (whether or not
the Company is the surviving corporation) another Subject Entity, or (ii) sell, assign, transfer, convey or otherwise dispose of
all or substantially all of the properties or assets of the Company and its Subsidiaries on a consolidated basis to one or more
Subject Entities, or (iii) make, or allow one or more Subject Entities to make, or allow the Company to be subject to or have its
Voting Shares be subject to or party to one or more Subject Entities making, a purchase, tender or exchange offer that is accepted
by the holders of at least either (x) 50% of the aggregate ordinary voting power of the outstanding Voting Shares, (y) 50% of the
aggregate ordinary voting power of the outstanding Voting Shares calculated as if any Voting Shares held by all Subject Entities
making or party to, or Affiliated with any Subject Entities making or party to, such purchase, tender or exchange offer were not
outstanding; or (z) such number of Voting Shares such that all Subject Entities making or party to, or Affiliated with any Subject
Entity making or party to, such purchase, tender or exchange offer, become collectively the beneficial owners (as defined in Rule
13d-3 under the 1934 Act) of at least 50% of the aggregate ordinary voting power of the outstanding Voting Shares or (iv) consummate
a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off or scheme of arrangement) with one or more Subject Entities whereby all such Subject Entities, individually or in the
aggregate, acquire, either (x) at least 50% of the aggregate ordinary voting power of the outstanding Voting Shares, (y) at least
50% of the aggregate ordinary voting power of the outstanding Voting Shares calculated as if any Voting Shares held by all the
Subject Entities making or party to, or Affiliated with any Subject Entity making or party to, such stock or share purchase agreement
or other business combination were not outstanding; or (z) such number of Voting Shares such that the Subject Entities become collectively
the beneficial owners (as defined in Rule 13d-3 under the 1934 Act) of at least 50% of the aggregate ordinary voting power of the
outstanding Voting Shares, or (B) that the Company shall, directly or indirectly, including through subsidiaries, Affiliates or
otherwise, in one or more related transactions, allow any Subject Entity individually or the Subject Entities in the aggregate
to be or become the “beneficial owner” (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, whether
through acquisition, purchase, assignment, conveyance, tender, tender offer, exchange, reduction in outstanding Voting Shares,
merger, consolidation, business combination, reorganization, recapitalization, spin-off, scheme of arrangement, reorganization,
recapitalization or reclassification or otherwise in any manner whatsoever, of either (x) at least 50% of the aggregate ordinary
voting power

    37 

     

    

represented by issued and outstanding
Voting Shares, (y) at least 50% of the aggregate ordinary voting power represented by issued and outstanding Voting Shares not
held by all such Subject Entities as of the date of this Note calculated as if any Voting Shares, as applicable, held by all such
Subject Entities were not outstanding, or (z) a percentage of the aggregate ordinary voting power represented by issued and outstanding
Voting Shares or other equity securities of the Company sufficient to allow such Subject Entities to effect a statutory short form
merger or other transaction requiring other shareholders of the Company to surrender their Voting Shares without approval of the
shareholders of the Company; provided that, the mere ownership by, and any transfer of Voting Shares among, any Permitted Holder,
Family Controlled Entity or the Founders Group, will not constitute a Fundamental Transaction hereunder except with respect to
a change of “beneficial ownership” (as determined under Section 13(d) of the 1934 Act) that results in a Person other
than any Permitted Holder, Family Controlled Entity or the Founders Group controlling more than 50% of the aggregate ordinary voting
power of the Voting Shares of the Company.

(x)              
 “Group” means a “group” as that term is used in Section 13(d) of the 1934 Act and as defined
in Rule 13d-5 thereunder.

(y)              
“Holder Pro Rata Amount” means a fraction (i) the numerator of which is the original Principal amount
of this Note on the Closing Date and (ii) the denominator of which is the aggregate original principal amount of all Notes issued
to the initial purchasers pursuant to the Securities Purchase Agreement on the Closing Date.

(z)               
“IFRS” means the International Financial Reporting Standards issued by the International Accounting Standards
Board, consistently applied.

(aa)     
 “Indebtedness” shall have the meaning ascribed to such term in the Securities Purchase Agreement.

(bb)          
“Interest Date” means, with respect to any given calendar month, the first Trading Day of such calendar
month.

(cc)           
“Maturity Date” shall mean [________, 2020][6];
provided, however, the Maturity Date may be extended at the option of the Holder (i) in the event that, and for so long as, an
Event of Default shall have occurred and be continuing or any event shall have occurred and be continuing that with the passage
of time and the failure to cure would result in an Event of Default or (ii) through the date that is twenty (20) Business Days
after the consummation of a Fundamental Transaction in the event that a Fundamental Transaction is publicly announced or a Change
of Control Notice is delivered prior to the Maturity Date, provided further that if a Holder elects to convert some or all of this
Note pursuant to Section 3 hereof, and the Conversion Amount would be limited pursuant to Section 3(d) hereunder, the Maturity
Date shall automatically be extended until such time as such provision shall not limit the conversion of this Note.

 

[6]
Insert first anniversary of the date hereof

    38 

     

    

(dd)         
“Options” means any rights, warrants or options to subscribe for or purchase Ordinary Shares or Convertible
Securities.

(ee)           
“Ordinary Shares” means (i) the Company’s A ordinary shares, £0.30 par value per share,
and (ii) any share capital into which such ordinary shares shall have been changed or any share capital resulting from a reclassification
of such A ordinary shares.

(ff)            
 “Parent Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person
and whose common shares or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one
such Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of consummation
of the Fundamental Transaction.

(gg)          
 “Person” means an individual, a limited liability company, a partnership, a joint venture, a corporation,
a trust, an unincorporated organization, any other entity or a government or any department or agency thereof.

(hh)          
“Principal Market” means The New York Stock Exchange.

(ii)              
“Redemption Notices” means, collectively, the Event of Default Redemption Notices and the Change of Control
Redemption Notices, and each of the foregoing, individually, a “Redemption Notice.”

(jj)              
“Redemption Premium” means 110%.

(kk)          
“Redemption Prices” means, collectively, Event of Default Redemption Prices and the Change of Control
Redemption Prices, and each of the foregoing, individually, a “Redemption Price.”

(ll)              
 “SEC” means the United States Securities and Exchange Commission or the successor thereto.

(mm)      
“Securities Purchase Agreement” means that certain securities purchase agreement, dated as of the Subscription
Date, by and among the Company and the initial holders of the Notes pursuant to which the Company issued the Notes, as may be amended
from time to time.

(nn)          
 “Subscription Date” means [September , 2019].

(oo)          
“Subsidiaries” shall have the meaning as set forth in the Securities Purchase Agreement

(pp)          
“Subject Entity” means any Person, Persons or Group or any Affiliate or associate of any such Person,
Persons or Group.

(qq)          
 “Successor Entity” means the Person (or, if so elected by the Holder, the Parent Entity) formed by,
resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder,
the Parent Entity) with which such Fundamental Transaction shall have been entered into.

    39 

     

    

(rr)             
“Trading Day” means, as applicable, (x) with respect to all price or trading volume determinations relating
to the Ordinary Shares, any day on which the Ordinary Shares is traded on the Principal Market, or, if the Principal Market is
not the principal trading market for the Ordinary Shares, then on the principal securities exchange or securities market on which
the Ordinary Shares is then traded, provided that “Trading Day” shall not include any day on which the Ordinary Shares
is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Ordinary Shares is suspended from
trading during the final hour of trading on such exchange or market (or if such exchange or market does not designate in advance
the closing time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time) unless such
day is otherwise designated as a Trading Day in writing by the Holder or (y) with respect to all determinations other than price
determinations relating to the Ordinary Shares, any day on which The New York Stock Exchange (or any successor thereto) is open
for trading of securities.

(ss)            
“Voting Shares” of a Person means any share capital of such Person of the class or classes pursuant to
which the holders thereof have the general voting power to elect, or the general power to appoint, the board of directors, managers,
trustees or other similar governing body of such Person (irrespective of whether or not at the time capital stock of any other
class or classes shall have or might have voting power by reason of the happening of any contingency).

(tt)             
 “VWAP” means, for any security as of any date, the dollar volume-weighted average price for such security
on the Principal Market (or, if the Principal Market is not the principal trading market for such security, then on the principal
securities exchange or securities market on which such security is then traded) during the period beginning at 9:30:01 a.m., New
York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg through its “HP” function (set to weighted
average) or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter
market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time, and ending
at 4:00:00 p.m., New York time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security
by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market
makers for such security as reported in the “pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC). If
the VWAP cannot be calculated for such security on such date on any of the foregoing bases, the VWAP of such security on such date
shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to
agree upon the fair market value of such security, then such dispute shall be resolved in accordance with the procedures in Section
21. All such determinations shall be appropriately adjusted for any share dividend, share split, share combination, recapitalization
or other similar transaction during such period.

    40 

     

    

30.             
DISCLOSURE. Upon receipt or delivery by the Company of any notice inaccordance with the terms of this Note, unless
the Company has in good faith determined that the matters relating to such notice do not constitute material, non-public information
relating to the Company or any of its Subsidiaries, the Company shall within one (1) Business Day after any such receipt or delivery
(each, a “Required Disclosure Deadline”) publicly disclose such material, non-public information on a Report
of Foreign Issuer on Form 6-K or otherwise. In the event that the Company believes that a notice contains material, non-public
information relating to the Company or any of its Subsidiaries, the Company so shall indicate to the Holder contemporaneously with
delivery of such notice, and in the absence of any such indication, the Holder shall be allowed to presume that all matters relating
to such notice do not constitute material, non-public information relating to the Company or any of its Subsidiaries. The Company
hereby covenants and agrees that from and after each Required Disclosure Deadline, the Holder shall not have any duty of confidentiality
to the Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agents with respect
to, or a duty to any of the foregoing not to trade on the basis of, such material non-public information. Nothing contained in
this Section 30 shall limit any obligations of the Company, or any rights of the Holder, under Section 4(l) of the Securities Purchase
Agreement.

[signature page follows]

    41 

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Note to be duly executed as of the Issuance Date set out above.

 

	
        EROS INTERNATIONAL PLC

         

	By:_________________________________
	Name:
	Title:

 

 

 

 

Senior Convertible Note - Signature Page

    

     

    

EXHIBIT
I

EROS INTERNATIONAL PLC

CONVERSION NOTICE

Reference is made to the
Senior Convertible Note (the “Note”) issued to the undersigned by Eros International Plc, a public limited company
organized under the laws of the Isle of Man (the “Company”). In accordance with and pursuant to the Note, the
undersigned hereby elects to convert the Conversion Amount (as defined in the Note) of the Note indicated below into Ordinary Shares,
£0.30 par value per share (the “Ordinary Shares”), of the Company, as of the date specified below. Capitalized
terms not defined herein shall have the meaning as set forth in the Note.

	Date of Conversion:	 
	Aggregate Principal to be converted:	 
	Aggregate accrued and unpaid 

Interest and accrued and unpaid Late 

Charges with respect to such portion 

of the Aggregate Principal and such 

Aggregate Interest to be converted:	 
	AGGREGATE CONVERSION 

AMOUNT

TO BE CONVERTED:	 
	Please confirm the following information:
	Conversion Price:	 
	Number of Ordinary Shares to be issued:	 
	 	 	 	 	 

    

     

    
	
        £If
        this Conversion Notice is being delivered with respect to an Alternate Conversion, check here if Holder is electing to use the
        following Alternate Conversion Price or Alternate Default Conversion Price (as applicable):____________

        Maximum Percentage Representation. This
        Conversion Notice shall constitute a representation by the Holder that after giving effect to the exercise provided for in this
        Conversion Notice, such Holder (together with the other Attribution Parties) will not have beneficial ownership (together with
        the other Attribution Parties) of a number of Ordinary Shares which exceeds the Maximum Percentage (as defined in the Note) of
        the total outstanding Ordinary Shares as determined pursuant to the provisions of Section 3(d) of the Note.

        Reported Outstanding Share Number. The
        Holder is effecting the exercise reflected in this notice based its understanding that the Reported Outstanding Share Number is
        _______________.

        Collective Ownership. After giving effect
        to the exercise reflected in this notice, the Holder together with the other Attribution Parties collectively would beneficially
        own ____________ Ordinary Shares, as calculated pursuant to the terms of the Note.

        Please issue the Ordinary Shares into which
        the Note is being converted to Holder, or for its benefit, as follows:

        £Check
        here if requesting delivery as a certificate to the following name and to the following address:

	Issue to:	 
	 	 
	 	 
	 	 
	            £Check here if requesting delivery by Deposit/Withdrawal at Custodian as follows:
	DTC Participant:	 
	DTC Number:	 
	Account Number:	 
	 	 	 	 	 

 

 

	
        Date: _____________ __, 

        

        _________________________

Name of Registered Holder

         
	 
	
        By:                                          

        Name:

        Title:

        

        

        Tax ID:_____________________

        Facsimile:___________________

        E-mail Address: 

	 

    

     

    

Exhibit II

ACKNOWLEDGMENT

The Company hereby acknowledges
the Conversion Notice attached hereto and hereby directs ______________ to issue the number of Ordinary Shares indicated in the
Conversion Notice in accordance with the Transfer Agent Instructions dated _________, 20__, from the Company and acknowledged and
agreed to by _______________.

 

	EROS INTERNATIONAL PLC
	By:_________________________________
	Name:
	Title:

 

	By:_________________________________
	Name:
	Title:

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