Document:

Exhibit 10.10

     

EMPLOYMENT AGREEMENT

 

This Employment Agreement
is effective as of the 1st day of January, 2016 between Celsius Holdings, Inc. (“Employer”) and John Fieldly
(“Employee”).

 

WHEREAS, Employer is actively
engaged in the business of manufacturing and distributing functional supplements in various delivery systems; and,

 

WHEREAS, Employee desires
to be employed pursuant to the terms of this Employment Agreement.

 

NOW THEREFORE, in consideration
of the mutual covenants and agreements contained in this Employment Agreement, and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

Article 1

Employment of Employee

 

Employer agrees to employ
Employee, and Employee accepts employment with Employer, on and subject to the terms and conditions set forth in this Employment
Agreement.

 

Article 2

Duties of Employee

 

Section 2.1. Position
and Duties. Employer agrees to employ Employee to act as Chief Financial Officer for Employer. Employee shall
be responsible for performing the following duties: executive management, overseeing business development and other duties typically
performed by persons employed in a similar capacity.

 

Section 2.2. Time Devoted
to Work. Employee agrees to devote Employee’s entire business time, attention, and energies to the business of Employer
in accordance with Employer’s instructions and directions and shall not be engaged in any other business activity, whether
or not the activity is pursued for gain, profit, or other pecuniary advantage, during the term of this Employment Agreement without
Employer’s prior written consent.

 

Article 3

Place of Employment

 

Section 3.1. Place of
Employment. Employee shall be based at Employer’s principal office at 2424 N. Federal Highway, Suite 208 Boca Raton,
FL 33431; excluding reasonable travel commensurate with Employee’s position and duties. Employer agrees that during the term
of this Employment Agreement it shall not assign Employee to work at any location which
is more than 100 miles from said principal office without Employee’s consent.

 

     

     

    

  

Section 3.2. Moving
Expenses. If Employer relocates its principal office more than 100 miles from its current principal office, or requests that
Employee relocate to one of its offices which is more than 100 miles from its current principal office, and Employee consents to
relocate to that new location, Employer shall promptly pay or reimburse Employee for all reasonable moving expenses incurred by
Employee in connection with the relocation plus an amount to reimburse Employee for any federal and state income taxes that it
has to pay on amounts reimbursed. Employer also shall indemnify Employee against any loss incurred in connection with the sale
of Employee’s principal residence. The amount of any loss shall be determined by taking the difference between the average
of two appraisal prices set by two independent appraisers agreed to by Employer and Employee and the actual sales price of Employee’s
principal residence.

 

Article 4

Compensation of Employee

 

Section 4.1. Base Salary.
For all services rendered by Employee under this Employment Agreement, Employer agrees to pay Employee an annual base salary of
$174,370, which shall be payable to Employee in such installments, but not less frequently than monthly, as are consistent with
Employee’s practice for its other Employees. Employee’s base salary shall be reviewed at least once a year by Employer’s
Board of Directors or its Compensation Committee.

 

Section 4.2. Incentive
Compensation. In addition to the base salary, Employee shall be entitled to receive incentive compensation according to a pre-established
bonus plan specific for the Employee, as determined by Employer’s Board of Directors.

 

Section 4.3 Reimbursement
for Business Expenses. Employer shall promptly pay or reimburse Employee for all reasonable business expenses incurred by Employee
in performing Employee’s duties and obligations under this Employment Agreement, but only if Employee properly accounts for
expenses in accordance with Employer’s policies. Employer agrees to provide temporary living accommodations in the Boca Raton,
Florida area for up to twelve months from the date of this Employment Agreement at a cost not to exceed $450 per month.

 

Section 4.4. Stock Options
and Other Stock Awards. .   Employee shall be granted 100,000 stock option grants to be issued on January 4, 2016 with
25,000 options to vest at the end of each calendar quarter pursuant to the Employer's 2006 Amended Incentive Stock Plan,
as amended, and all rules and regulations of the Securities and Exchange Commission applicable to stock option plans then in effect.
The Options will vest over three years.

 

Article 5

Vacations and Other Paid Absences

 

Section 5.1. Vacation
Days. Employee shall be entitled to 15 days paid vacation each calendar year during the term of this Employment Agreement.
All vacation is accrued during the calendar year of work, should Employee not take all vacation days in any calendar year, up to
10 days will be carried over to the next year. If the agreement is terminated during a calendar year, any accrued and not taken
vacation will be paid at the base salary rate, any vacation taken but previously not earned will not be deducted from any amount
due to the Employee.

 

    2 

     

    

  

Section 5.2. Holidays.
Employee shall be entitled to the same paid holidays as authorized by Employer for its other Employees.

 

Section 5.3. Sick Days
and Personal Absence Days. Employee shall be entitled to the same number of paid sick days and personal absence days authorized
by Employer for its other Employees.

 

Article 6

Life Insurance

 

Employer may, in its sole
discretion, maintain in effect during the term of Employee’s employment a life insurance policy on the life of Employee in
such amount as Employer shall in its sole discretion decide to maintain during the term of this Employment Agreement. Any proceeds
payable under the policy shall be paid to the beneficiary or beneficiaries designated in writing from time to time by Employee.

 

Article 7

Fringe Benefits

 

Section 7.1. Employer
Employee Benefit Plans. Employee shall be entitled to participate in and receive benefits from all of Employer’s Employee
benefit plans that currently are maintained by Employer for its Employees. Employee shall be entitled to participate in and receive
benefits under any retirement plan, profit-sharing plan, or other Employee benefit plan that Employer establishes for the benefit
of its Employees after the date of this Employment Agreement. No amounts paid to Employee from an Employee benefit plan shall count
as compensation due Employee as base salary or incentive compensation. Nothing in this Employment Agreement shall prohibit Employer
from modifying or terminating any of its Employee benefit plans in a manner that does not discriminate between Employee and other
Employees of Employer.

 

Section 7.2. Motor Vehicle.
Employer may, in its sole discretion, provide Employee with the use of a motor vehicle to be selected in the reasonable discretion
of Employer, or pay a monthly car allowance. If Employer does provide Employee with the use of a motor vehicle, Employer shall
procure, maintain, and pay for appropriate insurance on the motor vehicle, including liability insurance of at least $250,000.00
per person and $500,000.00 per occurrence for personal injury and $300,000.00 for property damage.

 

Article 8

Disability

 

Section 8.1. Termination
Because of a Disability. Except as may otherwise be required or prohibited by state or federal law, if because of illness or
injury Employee becomes unable to work full time for Employer for more than one hundred and eighty (180) days in any twelve month
period (excluding vacation days and holidays), Employer may, in its sole discretion at any time after the accumulation of such
time terminate Employee’s employment upon written notice to Employee.

 

    3 

     

    

  

Section 8.2. Compensation
During Periods of Disability.

 

(a)          Employee
shall continue to receive Employee’s base salary and incentive compensation while Employee is unable to work full time, until
the earlier of: (i) the accumulation of 90 days of disability in any 12 month period; (ii) the date Employee begins receiving disability
insurance benefits equal to Employee’s base salary and incentive compensation; or (iii) the date Employee terminates Employee’s
employment with Employer because Employee’s health becomes so impaired that continued performance of Employee’s duties
under this Employment Agreement would be hazardous to Employee’s physical or mental health. Notwithstanding anything to the
contrary contained herein, if Employee becomes disabled while performing his duties for the Employer described in Section 2.1,
the Employee will receive Employee’s base salary and incentive compensation for 180 days from the date of such disability.

 

(b)          While
Employee is unable to work full time because of illness or injury and through the full term of this Employment Agreement, including
extensions, Employer shall maintain for Employee’s benefit all Employee benefit plans in which Employee was participating
at the time Employee was terminated. If Employee is barred from participating in any Employee benefit plan because of Employee’s
disability, Employer shall pay Employee an amount equal to what Employer would have contributed on Employee’s behalf to the
Employee benefit plan if Employee’s participation had not been barred.

 

(c)          Employee
is not required to seek other employment to mitigate any amounts payable under this Employment Agreement. Nor will amounts due
Employee under this Employment Agreement be reduced by any amounts received by Employee for other employment.

 

Section 8.3. Disability
Insurance. Employer may, in its sole discretion, purchase and maintain disability insurance in force for the benefit of Employee
throughout the term of this Employment Agreement, including extensions.

 

Article 9

Termination of Employment

 

Section 9.1. Term of
Employment.

 

Employee’s employment
shall commence January 1, 2016 and shall continue until December 31, 2016 (“end-of-employment date”), unless extended
or terminated sooner, as provided by this article of the Employment Agreement. The end-of-employment date shall be deemed December
31, 2016. For the avoidance of doubt, failure to extend the term of employment beyond the end-of-employment date shall not be deemed
to be a termination by Employer, and neither party shall be obligated to negotiate or enter into any subsequent agreement or extension
of this Employment Agreement.

 

    4 

     

    

  

Section 9.2. Left blank
intentionally

 

Section 9.3. Termination
at Employee’s Death. Employee’s employment with Employer shall terminate at Employee’s death.

 

Section 9.4. Termination
by Employee. Employee may, but is not obligated to, terminate this Employment Agreement at any time under the following circumstances:

 

(a)          Employee’s
fringe benefits or other compensation are materially reduced.

 

(b)          Employer
fails to have a successor assume this Employment Agreement and Employee does not enter into a subsequent employment, consulting,
or similar agreement with such successor.

 

(c)          There
is a change in control of Employer, excluding control acquired by CD Financial, LLC and its affiliates. For purposes of this Agreement,
the term “Change of Control” shall mean:

 

(i) Approval
by Employer’s shareholders of (x) a reorganization, merger, consolidation or other form of corporate transactions or series
of transactions, in each case, with respect to which persons who were Employer’s shareholders immediately prior to such reorganization,
merger, consolidation or other transactions do not, immediately thereafter, own more than 50% of the combined voting power entitled
to vote generally in the election of directors of the reorganized, merged, or consolidated company’s then outstanding voting
securities, in substantially the same proportions as their ownership immediately prior to such reorganization, merger, consolidation
or other transactions, or (y) the sale of all or substantially all of the Employer’s assets (unless such reorganization,
merger, consolidation or other corporate transaction, liquidation, dissolution or sale is subsequently abandoned); or

 

(ii) Individuals
who, as of the date of this Agreement, constitute the Board (the “Incumbent Board”) cease for any reason to constitute
at least a majority of the Board, provided that any person becoming a director subsequent to the date of this Agreement whose election,
or nomination for election by Employer’s shareholders, was approved by a vote by a controlling shareholder owning in excess
50% of the then voting shares, shall be, for purposes of this Agreement, considered as though such person were a member of the
Incumbent Board.

 

Section 9.5. Termination
by Employer.

 

(a)          Termination
with or without Cause. Employer may terminate Employee’s employment for Cause or without Cause (as hereinafter defined).

 

    5 

     

    

  

(b)          For
purposes of this Agreement, the term “Cause” shall mean (i) an action or omission of the Employee which constitutes
a willful and material breach of, or failure or refusal (other than by reason of his disability) to perform his duties under, this
Agreement which is not cured within fifteen (15) days after receipt by the Employee of written notice of same, (ii) fraud, embezzlement,
misappropriation of funds or breach of trust in connection with his services hereunder, (iii) conviction of any crime which involves
dishonesty or a breach of trust, or (iv) gross negligence in connection with the performance of the Employee’s duties hereunder,
which is not cured within fifteen (15) days after written receipt by the Employee of written notice of same, or (v) Employee violates
Article 10 or Article 11 of this Employment Agreement.

 

Section 9.6. Notice
of Termination. Any termination of Employee’s employment by Employer or Employee, other than by reason of the expiration
of the term of this Employment Agreement, must be communicated to the other party by a written notice of termination. The notice
must specify the provision of this Employment Agreement authorizing the termination and must set forth in reasonable detail the
facts and circumstances providing the basis for termination of Employee’s employment. The Employee shall have the right to
address the Board regarding the acts set forth in the notice of termination.

 

Section 9.7. Date Termination
Is Effective. If Employee’s employment terminates because this Employment Agreement expires, then Employee’s employment
will be considered to have terminated on that expiration date. If Employee’s employment terminates because of Employee’s
death, then Employee’s employment will be considered to have terminated on the date of Employee’s death. If Employee’s
employment is terminated by Employee, then Employee’s employment will be considered to have terminated on the date that notice
of termination is given. If Employee’s employment is terminated by Employer for Cause, then Employee’s employment will
be considered to have terminated on the date specified by the notice of termination.

 

Section 9.8. Compensation
Following Termination.

 

(a)          If
Employee’s employment terminates because of Employee’s death, Employer shall pay a lump sum death benefit to the person
or persons designated in a written notice filed with Employer by Employee or, if no person has been designated, to Employee’s
estate. The amount of the lump sum death benefit will equal the amount of Employee’s then current annual base salary plus
the annualized amount of incentive compensation paid Employee most recently prior to Employee’s death, multiplied by the
number of months remaining in the term of this Employment Agreement not to exceed two months. This lump sum death benefit shall
be in addition to any life insurance payable pursuant to Article 6 and/or any other amounts that Employee’s beneficiaries
and estate may be entitled to receive under any Employee benefit plan maintained by Employer.

 

(b)          If
Employee’s employment is terminated by Employer for Cause, or by Employee other than pursuant to Section 9.4(a), (b), or
(c), Employer shall pay Employee Employee’s then current base salary through the date employment is terminated, and Employer
shall have no further obligations to Employee under this Employment Agreement.

 

    6 

     

    

  

(c)          If
Employee’s employment is terminated by Employer other than for Cause and prior to a Change of Control, or by Employee pursuant
Section 9.4(a), Employer shall pay Employee Employee’s then current base salary through the date employment is terminated
and any legal fees and expenses incurred by Employee to enforce Employee’s rights under this Employment Agreement. In addition,
Employer shall pay Employee as liquidated damages an amount equal to the sum of Employee’s then current base salary over
six months plus any approved and unpaid incentive bonus; this time period hereafter referred to as the Liquidated Damage Period.
In addition, all employee benefits according to sections 6 and 7 will be maintained through the Liquidated Damage Period. If by
law any benefit cannot be maintained due to termination of employment, the cash value of said benefit will be paid to Employee
over the Liquidated Damage Period.

 

(d)          As
an incentive for the retention of Employee following a Change of Control or an event described in Section 9.4(b), if Employee’s
employment is terminated by Employer without Cause and following a Change of Control, or by Employee pursuant to Section 9.4(b)
Employer shall pay Employee’s then current base salary through the date employment is terminated and any legal fees and expenses
incurred by Employee to enforce Employee’s rights under this Employment Agreement. In addition, Employer shall pay Employee
as liquidated damages an amount equal to two times Employee’s then current annual base salary.

 

(e)          If
Employee’s employment is terminated by Employee pursuant to Section 9.4(c) Employer shall pay Employee’s then current
base salary through the date employment is terminated and any legal fees and expenses incurred by Employee to enforce Employee’s
rights under this Employment Agreement. In addition, Employer shall pay Employee as liquidated damages an amount equal to the sum
of Employee’s then current salary plus approved and unpaid incentive compensation from the date of termination through December
31, 2017.

 

Article 10

Confidential Information

 

Section 10.1. Confidential
Information Defined. “Confidential Information” as used in this Employment Agreement shall mean any and all technical
and non-technical information belonging to, or in the possession of, Employer or its officers, directors, Employees, affiliates,
subsidiaries, clients, vendors, or Employees, including without limitation, patent, trade secret, and proprietary information;
techniques, sketches, drawings, models, inventions, know-how, processes, apparatus, equipment, algorithms, source codes, object
codes, software programs, software source documents, and formulae related to Employer’s business or any other current, future
and/or proposed business, product or service contemplated by Employer; and includes, without limitation, all information concerning
research, experimental work, development, design details and specifications, engineering, financial information, procurement requirements,
purchasing, manufacturing, customer lists, vendor lists, business forecasts, sales and merchandising, and marketing plans or similar
information.

 

    7 

     

    

  

Section 10.2 Disclosures.
Employee agrees that it shall, at no time during or after termination of this Employment Agreement, directly or indirectly make
use of, disseminate, or in any way disclose Confidential Information to any person, firm or business, except to the extent necessary
for performance of this Employment Agreement. Employee agrees that it shall disclose Confidential Information only to Employer’s
other Employees who need to know such information and who have previously agreed to be bound by the terms and conditions of a substantially
similar confidentiality provision and shall be liable for damages for the intentional or negligent disclosure of Confidential Information.
Employee’s obligations with respect to any portion of Confidential Information shall terminate only when Employee has documented
to Employer that (a) such information was lawfully in the public domain at the time it was communicated to Employee by Employer;
or (b) the communication was in response to a valid order by a court of competent jurisdiction or was necessary to establish the
rights of Employer under this Employment Agreement, provided, however that Employee shall promptly notify Employer of its notice
of any such order and cooperate reasonably with Employer in an attempt to limit or avoid such disclosure.

 

Section 10.3. Survival.
This Article 10 shall survive any termination of this Agreement and all extended periods.

 

Article 11

Noncompetition Agreement

 

Section 11.1. Agreement
Not To Compete. For the greater period of (i) the Liquidated Damage Period; and (ii) the one year period following the date
on which Employee’s employment with Employer terminates, Employee agrees not to directly or indirectly own, manage, control,
or operate; serve as an officer, director, partner or employee of; have any direct or indirect financial interest in; or assist
in any way; any person or entity that competes with any business conducted by Employer or any of Employer’s affiliates or
subsidiaries in any geographic region in which Employer conducts business.

 

Section 11.2. Competitive
Businesses. For purposes of this Article 11, a competitive business shall be any person or entity directly or indirectly engaged
in the manufacturing, import, export, sale or distribution of calorie-burning beverages or supplements.

 

Section 11.3. Ownership
of Public Corporation No Violation. Employee will not be considered to have violated this provision merely because Employee
owns no more than five percent (5%) of the stock of any publicly held corporation.

 

Section 11.4. Survival.
This Article 11 shall survive any termination of this Agreement and all extended periods.

 

Section 11.5. Extension
of Agreement Not To Compete. At Employer’s discretion, the Employer can cause Employee to extend the period of the agreement
not to compete by paying in advance the Employee 30% of the Employee’s last annual base salary and bonuses per year of extension.
The Employer can cause the extension for a total of 3 annual periods.

 

    8 

     

    

  

Article 12

Notices

 

Any notice given under
this Employment Agreement to either party shall be made in writing. Notices shall be deemed given when delivered by hand or when
mailed by registered or certified mail, return receipt requested, postage prepaid, and addressed to the party at the address set
forth below.

 

	Employee’s address:	John Fieldly
	 	20991 Woodspring Ave.
	 	Boca Raton, Fl 34428
	 	 
	Employer’s address:	Celsius Holdings, Inc.
	 	Att: Mr. Gerry David, President
	 	2424 N. Federal Highway, Suite 208
	 	Boca Raton, FL 33431

 

Each party may designate
a different address for receiving notices by giving written notice of the different address to the other party. The written notice
of the different address will be deemed given when it is received by the other party.

 

Article 13

Binding Agreement

 

Section 13.1. Employer’s
Successors.

 

(a)          The
rights and obligations of Employer under this Employment Agreement shall inure to the benefit of and shall be binding in all respects
upon the successors and assigns of Employer.

 

(b)          Employer
shall require any direct or indirect successor (by purchase, merger, consolidation, or otherwise) of all or substantially all of
Employer’s stock, business and/or assets to expressly agree to assume Employer’s obligations under this Employment
Agreement and perform them in the same manner and to the same extent as Employer would have been required to do if no succession
had occurred. The agreement must be in a form and substance satisfactory to Employee.

 

(c)          If
Employer fails to obtain such an agreement before the effective date of the succession, Employer’s failure will be considered
a breach of this Employment Agreement, and Employee shall be entitled to the immediate payment of the amount of money that Employee
would have been entitled to if Employer had terminated Employee’s employment other than for Cause in accordance with the
terms of Section 9.8(d) of this Employment Agreement, calculated as though Employee’s employment had terminated on the effective
date of the succession. However, Employer’s failure to obtain such agreement shall not affect said successor’s obligations
pursuant to paragraph 13.1(a) above.

 

Section 13.2. Employee’s
Successors. This Employment Agreement shall inure to the benefit and be enforceable by and upon Employee’s personal representatives,
legatees, and heirs. If Employee dies while amounts are still owed, such amounts shall be paid to Employee’s legatees or,
if no such person or persons have been designated, to Employee’s estate.

 

    9 

     

    

  

Article 14

Waivers

 

The waiver by either party
of a breach of any provision of this Employment Agreement shall not operate or be construed as a waiver of any subsequent breach.

 

Article 15

Entire Agreement

 

Section 15.1. No Other
Agreements. This instrument contains the entire agreement of the parties. The parties have not made any agreements or representations,
oral or otherwise, express or implied, pertaining to the subject matter of this Employment Agreement other than those specifically
included in this Employment Agreement.

 

Section 15.2. Prior
Agreements. This Employment Agreement supersedes any prior agreements pertaining to or connected with or arising in any manner
out of the employment of Employee by Employer. All such prior agreements are terminated and are of no force or effect whatsoever.

 

Article 16

Amendment of Agreement

 

No change or modification
of this Employment Agreement shall be valid unless it is in writing and signed by the party against whom the change or modification
is sought to be enforced. No change or modification by Employer shall be effective unless it is approved by Employer’s Board
of Directors and signed by an officer specifically authorized to sign such documents.

 

Article 17

Severability of Provisions

 

If any provision of this
Employment Agreement is invalidated or held unenforceable, the invalidity or unenforceability of that provision or provisions shall
be deemed modified or severed only to the minimum extent necessary to make said provision(s) valid and enforceable while maintaining
the intent of said provision(s). No such modification shall affect the validity or enforceability of any other provision of this
Employment Agreement.

 

Article 18

Assignment of Agreement

 

Employer shall not assign
this Employment Agreement other than to a successor without Employee’s prior written consent.

 

    10 

     

    

  

Article 19

Governing Law, Venue &
Attorneys Fees

 

All questions regarding
the validity and interpretation of this Employment Agreement shall be governed by and construed and enforced in all respects in
accordance with the laws of the State of Florida (without regard to the conflicts of laws provisions thereof). Venue for any action
arising in any manner out of the Employee’s employment, this Employment Agreement, or any of the terms contained herein shall
be the Federal and or State courts located in Palm Beach County, Florida, regardless of where this Employment Agreement is to be
performed. In the event either party engages legal counsel to enforce any provision contained in this Employment Agreement, the
prevailing party shall be entitled to all reasonable attorneys fees, investigative expenses, costs, and court costs, whether or
not a suit is actually filed, but including all levels of appeal.

 

Article 20

Construction

 

The parties hereto have
participated jointly in the negotiation and drafting of this Employment Agreement and, in the event an ambiguity or question of
intent or interpretation arises, this Employment Agreement shall be construed as jointly drafted by the parties hereto and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Employment
Agreement.

 

Article 21

Counterpart Execution

 

This Employment Agreement
may be executed in multiple counterparts and delivered by facsimile, e-mail or portable document format (.pdf) transmission, each
of which shall be deemed an original, but all of which shall constitute one and the same Agreement.

 

[signature page follows]

 

    11 

     

    

 

IN WITNESS WHEREOF, the
parties have executed this Employment Agreement in duplicate as of the date and year first above written.

 

	 	EMPLOYEE:
	 	 	 
	 	/s/ John Fieldly
	 	John Fieldly
	 	 	 
	 	EMPLOYER:
	 	 	 
	 	Celsius Holdings Inc.
	 	 	 
	 	By:	 /s/ Gerry David
	 	 	Gerry David
	 	 	Chief Executive Officer
	 	 	 
	 	BOARD APPROVAL:
	 	 	 
	 	By:	/s/ William H. Milmoe
	 	 	William H. Milmoe
	 	 	Chairman of the Board

 

    12Exhibit 10.10

 

NEITHER THIS SECURITY
NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE
TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

COMMON STOCK PURCHASE WARRANT

 

DERYCZ
SCIENTIFIC, Inc.

 

Warrant No: ___

 

	Warrant Shares: ______	Initial Exercise Date: December 19, 2011	 

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) certifies that, for value received, ________________________ (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after December 19, 2011 (the “Initial Exercise Date”) and on or prior to the close of business on the ten
year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for
and purchase from Derycz Scientific, Inc., a Nevada corporation (the “Company”), _______________ shares (the
“Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall
be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1.          Definitions.

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act. With respect to a Holder,
any investment fund or managed account that is managed on a discretionary basis by the same investment manager as such Holder will
be deemed to be an Affiliate of such Holder.

 

“Board
of Directors” means the board of directors of the Company.

 

    	1 

     

    

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of California are authorized or required by law or other governmental action
to close.

 

“Commission”
means the Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed into.

 

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

 

“Market
Price” means: (a) the closing price reported on the Company’s Trading Market on the Trading Day immediately preceding
any applicable measuring date, (b) if no trading occurs on the Trading Day immediately preceding any applicable measurement date,
then the closing bid price reported on such Trading Market, (c) if the Company’s Common Shares are not then listed on a Trading
Market, the price offered by any acquirer in a Fundamental Transaction, or (d) in all other cases, the fair market value of
a share of Common Stock as determined in good faith by the Company’s Board of Directors at their sole and absolute discretion.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

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

 

“Trading
Day” means a day on which the New York Stock Exchange is open for trading.

 

“Trading
Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the American Stock Exchange, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the New York Stock Exchange, and the OTC Bulletin Board.

 

“Transfer
Agent” means American Stock Transfer, LLC, the current transfer agent of the Company with a mailing address of 6201 15th
Avenue, Brooklyn, NY 11219 and a facsimile number of 718.765.8718, and any successor transfer agent of the Company.

 

    	2 

     

    

 

Section 2.          Exercise.

 

a)        Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or
agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing
on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto; and, within 5 Business
Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received payment of the aggregate
Exercise Price of the shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the
Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the
Holder shall surrender this Warrant to the Company for cancellation within 5 Business Days of the date the final Notice of Exercise
is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant
Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in
an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of
Exercise Form within 2 Business Days of receipt of such notice. In the event of any dispute or discrepancy, the records of the
Company shall be controlling and determinative in the absence of manifest error. The Holder and any assignee, by acceptance
of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion
of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than
the amount stated on the face hereof.

 

b)        Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $1.19, subject to adjustment hereunder
(the “Exercise Price”).

 

c)        Exercisability;
Vesting. The Warrant Shares shall vest on the date hereof. 

 

d)        Cashless
Exercise. If at any time after the six month anniversary of the Initial Exercise Date there is no effective registration statement
registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, this Warrant may also be exercised
at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the
number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = the
Market Price on the Business Day immediately preceding the date of such election;

 

(B) = the
Exercise Price of this Warrant, as adjusted; and

 

(X) =
the number of Warrant Shares issuable upon exercise of this Warrant in accordance with the terms of this Warrant by means of a
cash exercise rather than a cashless exercise.

 

    	3 

     

    

 

e)        Mechanics
of Exercise.

 

i.            Delivery
of Certificates Upon Exercise. Certificates for shares purchased hereunder shall be made by physical delivery to the address
specified by the Holder in the Notice of Exercise within 5 Trading Days from the delivery to the Company of the Notice of Exercise
Form, surrender of this Warrant (if required) and payment of the aggregate Exercise Price as set forth above (“Warrant
Share Delivery Date”). This Warrant shall be deemed to have been exercised on the date the Exercise Price is received
by the Company. The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named
therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been
exercised by payment to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be
paid by the Holder, if any, pursuant to Section 2(e)(vi) prior to the issuance of such shares, have been paid.

 

ii.         Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing Warrant
Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by
this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

iii.         Rescission
Rights. If the Company fails to cause the transfer agent of the Company to transmit to the Holder a certificate or the certificates
representing the Warrant Shares pursuant to Section 2(e)(i) by the Warrant Share Delivery Date, then, the Holder will have the
right to rescind such exercise.

 

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

 

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

 

    	4 

     

    

 

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

 

Section 3.          Certain
Adjustments.

 

a)        Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the
aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)        Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

c)        Notice
to Holder.

 

i.            Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth a brief statement of the facts
requiring such adjustment. Notwithstanding the forgoing, in the event the Company makes a public disclosure with regard to the
Exercise Price adjustment, such disclosure shall be deemed notice to the Holders.

 

    	5 

     

    

 

ii.         Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, of any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last
address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or
effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common
Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the
date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares
of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall
not affect the validity of the corporate action required to be specified in such notice. The Holder is entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice. Notwithstanding
the forgoing, in the event the Company makes a public disclosure with regard to the subject matter of this Section 3(d)(ii), such
disclosure shall be deemed notice to the Holders.

 

Section 4.          Transfer
of Warrant.

 

a)        Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof, and upon the prior
consent of the Company, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable,
in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with
a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney
and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required,
such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable,
and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant
evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly
assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued. Notwithstanding
the foregoing, upon request by Holder, the Company will issue a new Warrant or Warrants in the names of any assignee(s) of Holder
at no charge to Holder or the assignee(s).  

 

    	6 

     

    

 

b)        New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a) and 4(d), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated
the original Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)        Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

d)        Transfer
Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer
of this Warrant shall not be eligible for resale without volume or manner-of-sale restrictions pursuant to Rule 144, the Company
may require, as a condition of allowing such transfer, that the Holder or transferee of this Warrant, as the case may be, may be
required by the Company to provide an opinion of counsel with regard to such assignment or transfer.

 

Section
5.          Miscellaneous.

 

a)        No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a stockholder
of the Company prior to the exercise hereof as set forth in Section 2(e)(i).

 

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

 

    	7 

     

    

 

c)        Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

d)        Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the exercise
of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that
such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued
upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by
this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created
by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

 

Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, 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
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

    	8 

     

    

 

Before taking
any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

e)        Governing
Law and Venue. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be
governed by and construed and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles
of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense
of the transactions contemplated by this Warrant (whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the state
of California. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the
state of California, County of Los Angeles 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 improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and
consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such party at the address in effect for notices and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in
any way any right to serve process in any other manner permitted by law. If either party shall commence an action or proceeding
to enforce any provisions of this Warrant, then the prevailing party in such action or proceeding shall be reimbursed by the other
party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such action or proceedings or questions concerning the construction, validity, enforcement and interpretation of this Warrant.

 

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

 

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

 

    	9 

     

    

 

h)        Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number set forth on the signature pages attached hereto prior to 5:30 p.m. (New York City time)
on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile
at the facsimile number set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30
p.m. (New York City time) on any Trading Day, the date of the public disclosure if such notice is communicated via public disclosure
(d) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (e)
upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall
be: (i) if to Holder, at its address of records as contained in the Warrant Register, and (ii) if to Company, at its corporate
headquarters.

 

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

 

j)         Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

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

 

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

 

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

 

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

 

    	10 

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	DERYCZ SCIENTIFIC, inc.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	11 

     

    

 

NOTICE OF EXERCISE

 

To:          DERYCZ
SCIENTIFIC, inc.

 

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

 

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

 

[ ] in lawful
money of the United States; or

 

[ ] the cancellation
of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this
Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth
in subsection 2(c).

 

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

 

	 	 	 

 

The Warrant Shares shall be delivered by
the physical delivery of a certificate to:

 

	 	 	 
	 	 	 
	 		 
	 	 	 
	 		 

 

(4)  [If required by
applicable regulations] Accredited Investor. The undersigned is an “accredited investor”
as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

 

[SIGNATURE
OF HOLDER]

 

	Name of Investing Entity:	 

	Signature of Authorized Signatory of Investing Entity:	 

	Name of Authorized Signatory:	 

	Title of Authorized Signatory:	 

	Date:	 

 

     

     

    

 

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, [____]
all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

_______________________________________________
whose address is

 

_______________________________________________________________.

 

_______________________________________________________________

 

	 	Dated:  ______________, _______

 

	Holder’s Signature:	
	 	 
	Holder’s Address:	
	 	 
	 	

 

Signature Guaranteed: ___________________________________________

 

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}]]