Document:

Exhibit
B

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (as it may be amended or modified from time to time, this “Agreement”) is
made and entered into as of [●], 2019 by and between OncoSec Medical Incorporated, a Nevada corporation (the “Company”),
and Sirtex Medical US Holdings, Inc., a Delaware corporation (“Buyer”).

 

WHEREAS,
the Company and Buyer entered into that certain Stock Purchase Agreement, dated as of October 10, 2019 (the “SPA”);
and

 

WHEREAS,
in connection with the execution and delivery of the SPA and the consummation of the transactions contemplated thereby, the Company
has agreed to grant Buyer certain registration rights as set forth below.

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants herein contained, and other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the parties agree as follows:

 

Section
1. Definitions

 

Capitalized
terms used but not defined in this Agreement shall have the respective meanings ascribed to them in the SPA.

 

“Agent”
means the principal placement agent in an agented placement of Registrable Securities.

 

“Automatic
Shelf Registration Statement” shall have the meaning specified in Rule 405 under the 1933 Act.

 

“Prospectus”
means the prospectus or prospectuses included in any Registration Statement (including any “free writing prospectus”
(as defined in Rule 405 under the 1933 Act) and any prospectus subject to completion and a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
under the 1933 Act), as amended or supplemented by any prospectus supplement with respect to the terms of the offering of any
portion of the Registrable Securities covered by such Registration Statement and by all other amendments and supplements to the
prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such prospectus or prospectuses.

 

“Registrable
Securities” means the Common Stock, any other shares of Common Stock issued or issuable with respect thereto (whether
by way of a stock dividend or stock split or in exchange for or upon conversion of such shares or otherwise) and any Securities
into which the Common Stock may be converted or exchanged pursuant to any merger, consolidation, sale of all or any part of its
assets, corporate conversion, reorganization or similar transaction of the Company (it being understood that, for purposes of
this Agreement, a Person shall be deemed to be a holder of Registrable Securities whenever such Person has the right to then acquire
or obtain from the Company any Registrable Securities, whether or not such acquisition has actually been effected), held or beneficially
owned by Buyer (whether now held or beneficially owned or hereafter acquired, and including any such Securities received by Buyer
upon the conversion or exchange of, or pursuant to such a transaction with respect to, other Securities held by Buyer). As to
any particular Registrable Securities, such securities shall cease to be Registrable Securities on the earliest to occur of: (a)
the date on which a Registration Statement with respect to the sale of such Registrable Securities shall have become effective
under the 1933 Act and such Registrable Securities shall have been sold, transferred or disposed of pursuant to such effective
Registration Statement; and (b) the date on which such Registrable Securities shall have ceased to be outstanding.

 

    	 	 	 

     

    

 

“Registration
Statement” means any registration statement filed by the Company with the SEC in compliance with the 1933 Act for a
public offering and sale of the Common Stock or other securities of the Company, including the Prospectus, amendments and supplements
to such Registration Statement, including pre- and post-effective amendments, all exhibits and all materials incorporated by reference
or deemed to be incorporated by reference in such Registration Statement.

 

“Rule
144” means Rule 144 of the 1933 Act.

 

“Securities”
means capital stock, limited partnership interests, limited liability company interests, beneficial interests, warrants, options,
notes, bonds, debentures and other securities, equity interests, ownership interests and similar obligations of every kind and
nature of any Person.

 

“Shelf
Registration Statement” means a Registration Statement on Form S-3 or another appropriate form for an offering to be
made on a delayed or continuous basis pursuant to Rule 415 under the 1933 Act.

 

“Transfer”
means and includes the act of selling, giving, transferring, creating a trust (voting or otherwise), assigning or otherwise disposing
of (other than pledging, hypothecating or otherwise transferring as security or any transfer upon any merger or consolidation)
(and correlative words shall have correlative meanings); provided, however, that any transfer or other disposition upon
foreclosure or other exercise of remedies of a secured creditor after an event of default under or with respect to a pledge, hypothecation
or other transfer as security shall constitute a Transfer.

 

“Underwriters’
Representative” means the managing underwriter, or in the case of a co-managed underwriting, the managing underwriter
designated as the Underwriters’ Representative by the co-managers.

 

“WKSI”
shall mean a well-known seasoned issuer, as defined in Rule 405 under the 1933 Act.

 

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Section
2. Registration Rights

 

(a)
Shelf Registrations. The Company shall use its best efforts to remain qualified to register the offer and sale of its securities
under the 1933 Act pursuant to a Shelf Registration Statement. At any time and from time to time on or after the Closing Date,
Buyer shall have the right to request an unlimited number of registrations under the 1933 Act of all or any portion of its Registrable
Securities pursuant to a Shelf Registration Statement by delivering to the Company a written notice (a “Shelf Registration
Notice”) requesting that the Company prepare and file with the SEC a Shelf Registration Statement with respect to resales
of some or all of Buyer’s Registrable Securities. As promptly as practicable after receiving a Shelf Registration Notice,
but in no event more than 30 days following receipt of such notice, the Company shall file with the SEC a Shelf Registration Statement
covering all Registrable Securities requested to be included and, unless such Shelf Registration Statement shall become automatically
effective, the Company shall use its reasonable best efforts to cause the Shelf Registration Statement to become or be declared
effective by the SEC for all of the Registrable Securities covered thereby as soon as practicable thereafter, but in no event
later than 60 days after the filing of such Shelf Registration Statement. To the extent the Company is a WKSI at the time that
any Shelf Registration Statement is to be filed, the Company shall file an Automatic Shelf Registration Statement that covers
such Registrable Securities. The Company agrees to use its reasonable best efforts to keep the Shelf Registration Statement (or
a successor Registration Statement filed with respect to the Registrable Securities) continuously effective (including by filing
a new Shelf Registration Statement if the initial Shelf Registration Statement expires) in order to permit the Prospectus forming
a part thereof to be lawfully delivered and the Shelf Registration Statement useable for resale of the Registrable Securities
in accordance with the intended methods of disposition set forth therein, so long as there are any Registrable Securities outstanding
(the “Shelf Effectiveness Period”).

 

(b)
Takedown Offerings. At any time during the Shelf Effectiveness Period, Buyer may deliver to the Company a written notice
(a “Shelf Takedown Notice”) requiring the Company to facilitate a “takedown” of Registrable Securities
off of a Shelf Registration Statement by Buyer (a “Shelf Offering”). As promptly as practicable after receiving
a Shelf Takedown Notice, but in no event more than 20 days following receipt of such notice, the Company shall facilitate such
a “takedown” by amending or supplementing the Prospectus related to the Shelf Registration Statement as may be requested
by Buyer and taking other actions contemplated by Section 3.1 that may be applicable to such Shelf Offering.

 

(c)
Non-Shelf Demand Registration. At any time and from time to time, if the Company has not effected or is not diligently
pursuing a Shelf Registration Statement pursuant to Section 2(a) or 2(b) (including within the time frames specified
therein), or the Company is not eligible to file a Shelf Registration Statement (of which ineligibility the Company shall promptly
notify Buyer) or the Shelf Registration Statement filed pursuant to Section 2(a) shall cease to be effective, Buyer may
deliver to the Company a written notice (a “Non-Shelf Demand Registration Notice”) informing the Company that
Buyer requires the Company to register for resale some or all of such Buyer’s Registrable Securities (a “Non-Shelf
Demand Registration”). Upon receipt of the Non-Shelf Demand Registration Notice, the Company will file with the SEC
as promptly as practicable after receiving the Non-Shelf Demand Registration Notice, but in no event more than 45 days following
receipt of such notice, a Registration Statement covering all requested Registrable Securities (the “Non-Shelf Demand
Registration Statement”), and the Company agrees to use its reasonable best efforts to cause the Non-Shelf Demand Registration
Statement to be declared effective by the SEC as soon as practicable following the filing thereof, but in no event later than
60 days after the filing of such Non-Shelf Demand Registration Statement. The Company agrees to use its reasonable best efforts
to keep any Non-Shelf Demand Registration Statement continuously effective (including the preparation and filing of any amendments
and supplements necessary for that purpose) for a period of not less than one year (“Minimum Effective Period”).

 

(d)
All offers and sales by Buyer under a Non-Shelf Demand Registration Statement shall be completed during the Minimum Effective
Period. Upon receipt of written notice from the Company that such Non-Shelf Demand Registration Statement is no longer effective,
Buyer will not offer or sell the Registrable Securities under the existing Non-Shelf Demand Registration Statement but may deliver
a new Non-Shelf Demand Registration Notice pursuant to Section 2(c) and require the Company to file a new Non-Shelf Demand
Registration Statement.

 

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(e)
Piggyback Registration Rights. 

 

(i)
Whenever the Company proposes to register the offer and sale of any shares of its Common Stock under the 1933 Act (other than
a registration (i) pursuant to a registration statement on Form S-8 (or other registration solely relating to an offering or sale
to employees or directors of the Company pursuant to any employee stock plan or other employee benefit arrangement in existence
as of the date hereof) or (ii) in connection with any dividend or distribution reinvestment or similar plan), whether for its
own account or for the account of one or more stockholders of the Company (other than Buyer pursuant to this Agreement and Grand
Decade Developments Limited, but only to the extent such registration is effectuated pursuant to the registration rights agreement
dated as of the date hereof between Grand Decade Developments Limited and the Company) (a “Piggyback Registration”),
the Company shall give prompt written notice (in any event at least 15 days prior to the filing of a Registration Statement) to
Buyer of its intention to effect such a registration, and such notice shall offer Buyer the opportunity to be included in such
registration by notifying the Company in writing within 10 days. Subject to the provisions of this Section 2(e), the
Company shall include in such registration all Registrable Securities requested by Buyer to be included therein. If any Piggyback
Registration pursuant to which Buyer has registered the offer and sale of Registrable Securities is conducted using a Shelf Registration
Statement (a “Piggyback Shelf Registration Statement”), Buyer shall have the right, but not the obligation,
to be notified of and to participate in any offering under such Piggyback Shelf Registration Statement (a “Piggyback
Shelf Takedown”).

 

(ii)
If any Piggyback Registration or Piggyback Shelf Takedown involves an underwritten offering, Buyer has elected to include Registrable
Securities in such Piggyback Registration or Piggyback Shelf Takedown, and the managing underwriter of such offering advises the
Company and Buyer in writing that, in its reasonable and good faith opinion, the number of shares of Common Stock proposed to
be included in such registration or takedown exceeds the number of shares of Common Stock that can be sold in such offering and/or
that the number of shares of Common Stock proposed to be included in any such registration or takedown would materially and adversely
affect the price for such shares of Common Stock, the Company shall include in such registration or takedown: (i) first, the Registrable
Securities requested to be included therein by Buyer; (ii) second, the shares of Common Stock that the Company proposes to sell;
and (iii) third, the shares of Common Stock requested to be included therein by other stockholders of the Company, if any, allocated
among such stockholders in such manner as they may agree.

 

(iii)
Buyer may elect to withdraw its request for inclusion of Registrable Securities in any Piggyback Registration or Piggyback Shelf
Takedown by giving written notice to the Company of such request to withdraw prior to the effectiveness of the Registration Statement
or the pricing of an underwritten offering, as applicable.

 

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(f)
Underwritten Offerings. Except for Piggyback Registrations, if any registration or offering pursuant to this Section
2 involves an underwritten offering (whether on a “firm,” “best efforts” or “all reasonable
efforts” basis or otherwise) or an agented offering, Buyer shall have the right to select the underwriter or underwriters
and manager or managers to administer such underwritten offering or the placement agent or agents for such agented offering. If
any Piggyback Registration is initiated as a primary underwritten offering on behalf of the Company, the Company shall have the
right to select the underwriter or underwriters and manager or managers to administer such underwritten offering; provided,
that such selection shall be subject to the consent of Buyer, which consent shall not be unreasonably withheld or delayed. In
all cases, Buyer shall have the right to select its counsel in connection with any registration or offering.

 

(g)
Inclusion of Additional Securities. Except as expressly provided in Section 2(e), none of the Company, any stockholder
or any security holder of the Company (other than Buyer) may include securities in any offering requested under Section 2
of this Agreement.

 

Section
3. Additional Obligations of the Company and Buyer

 

3.1
Obligations of the Company. When the Company is required to effect the registration of any Registrable Securities or facilitate
or effect any offering pursuant to Section 2 of this Agreement, the Company shall use its reasonable best efforts to effect
and facilitate such registration or offering in accordance with the intended method of disposition thereof, and pursuant thereto
the Company shall at the earliest practicable date (and as applicable):

 

(a)
use its reasonable best efforts to (i) register or qualify the Registrable Securities within a reasonable time after the applicable
Registration Statement is declared effective by the SEC under all applicable state securities or “blue sky” laws of
such jurisdictions as Buyer may reasonably request in writing, (ii) keep each such registration or qualification effective during
the period such Registration Statement is required to remain effective pursuant to this Agreement, (iii) cooperate with Buyer
and the underwriters or Agents, if any, and their respective counsel in connection with any filings required to be made with the
Financial Industry Regulatory Authority, Inc. (“FINRA”) or other applicable regulatory authorities, and (iv)
to do any and all other similar acts and things that may be reasonably necessary or advisable to enable Buyer to consummate the
disposition of the Registrable Securities in each such jurisdiction; provided, however, that the Company shall not be required
to (A) qualify generally to do business in any jurisdiction as a foreign corporation or to register as a broker or dealer in any
jurisdiction where it would not otherwise be required to so qualify or register but for this Agreement, (B) take any action that
would cause it to become subject to general taxation in any jurisdiction where it would not otherwise be subject to such taxation
or (C) take any action that would subject it to the general service of process in any jurisdiction where it would not otherwise
be subject to such process;

 

(b)
promptly notify Buyer of the receipt, and provide copies to Buyer, of any comments or other correspondence from staff of the SEC
with respect to any Registration Statement, and promptly respond to such comments (subject to Section 3.1(m)) and provide
copies of such responses to Buyer;

 

(c)
as promptly as practicable, prepare and file with the SEC, if necessary, such amendments and supplements to the Registration Statement
and the Prospectus used in connection with such Registration Statement or any document incorporated therein by reference or file
any other required document as may be necessary to cause or maintain the effectiveness of such Registration Statement for so long
as such Registration Statement is required to be kept effective and to comply with the provisions of the 1933 Act and the rules
thereunder with respect to the disposition of all securities covered by such Registration Statement and the instructions applicable
to the registration form used by the Company;

 

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(d)
in the event that any Registrable Securities included in a Registration Statement subject to, or required by, this Agreement remain
unsold at the end of the period during which the Company is obligated to maintain the effectiveness of such Registration Statement,
file a post-effective amendment to the Registration Statement for the purpose of removing such securities from registered status;

 

(d)
furnish, without charge, to Buyer such number of copies of the Registration Statement, each amendment and supplement thereto (in
each case including all exhibits and any documents incorporated or deemed to be incorporated by reference therein), and the Prospectus
included in such Registration Statement (including each preliminary Prospectus) in conformity with the requirements of the 1933
Act as Buyer or any underwriter or Agent may reasonably request for use in and in order to facilitate the public sale or other
disposition of the Registrable Securities owned by Buyer;

 

(e)
if a disposition of Registrable Securities takes the form of an underwritten or agented offering, any “bought deal”
or block trade, promptly enter into customary agreements (including, in the case of an underwritten offering, underwriting agreements
in customary form, and including provisions with respect to indemnification and contribution in customary form) and promptly take
all other customary actions at such times as customarily occur in similar registered offerings in order to facilitate the disposition
of such Registrable Securities and in connection therewith, including:

 

(i)
make such representations and warranties to Buyer and the underwriters, if any, in form, substance and scope as are customarily
made by issuers in similar underwritten offerings;

 

(ii)
obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall
be reasonably satisfactory to Buyer and the Underwriters’ Representative or Agent, if any) addressed to Buyer and the underwriters,
if any, covering the matters customarily covered in opinions requested in sales of securities or underwritten offerings and such
other matters as may be reasonably requested by Buyer and the lead managing underwriter, and the Company shall furnish to Buyer
a signed counterpart of any such legal opinion;

 

(iii)
obtain “comfort” letters and updates thereof from the Company’s independent certified public accountants addressed
to Buyer, if permissible, and the underwriters, if any, which letters shall be customary in form and shall cover matters of the
type customarily covered in “comfort” letters to underwriters in connection with primary underwritten offerings, and
the Company shall furnish to Buyer a signed counterpart of any such comfort letter; and

 

(iv)
use its reasonable best efforts to obtain executed lock-up agreements from the officers and directors of the Company and from
the holders of more than 5% of the Company’s equity securities (including those who are, or whose associated persons are,
bound by the Company’s insider trading policy), if requested by the underwriters for such time periods as the underwriters
may request;

 

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(f)
promptly notify Buyer: (i) when any Registration Statement, any pre-effective amendment, the Prospectus or any prospectus supplement
related thereto or post-effective amendment to the Registration Statement has been filed, and, with respect to the Registration
Statement or any post-effective amendment, when the same has become effective, (ii) of the issuance by the SEC of any stop order
suspending the effectiveness of the Registration Statement or the initiation or threat of any proceedings for that purpose, and
(iii) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable
Securities for sale under the securities or “blue sky” laws of any jurisdiction or the initiation of any proceeding
for such purpose;

 

(g)
use its reasonable best efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement
or suspending the qualification or exemption from qualification under state securities or “blue sky” laws, and, if
any such order suspending the effectiveness of a Registration Statement or suspending the qualification or exemption from qualification
under state securities or “blue sky” laws is issued, shall promptly use its reasonable best efforts to obtain the
withdrawal of such order at the earliest possible moment (and shall provide Buyer with prompt notice thereof);

 

(h)
after the filing of a Registration Statement and thereafter until the expiration of the period during which the Company is required
to maintain the effectiveness of the applicable Registration Statement as set forth in this Agreement, promptly notify Buyer:
(i) of the existence of any fact of which the Company is aware or the happening of any event which has resulted in (A) the Registration
Statement, as then in effect, containing an untrue statement of a material fact or omitting to state a material fact required
to be stated therein or necessary to make any statements therein not misleading, (B) the Prospectus included in such Registration
Statement containing an untrue statement of a material fact or omitting to state a material fact necessary to make any statements
therein, in the light of the circumstances under which they were made, not misleading or (C) the representations and warranties
of or relating to the Company contained in any agreement for the sale of any Registrable Securities under a Registration Statement
ceasing to be true and correct in any material respect and (ii) of the Company’s reasonable determination that a post-effective
amendment to the Registration Statement would be appropriate or required or that there exist circumstances not yet disclosed to
the public which make further sales under such Registration Statement inadvisable pending such disclosure and post-effective amendment;
and, if the notification relates to any event described in either of clauses (i) or (ii) of this Section 3.1(h),
the Company shall promptly prepare and file with the SEC a post-effective amendment to the Registration Statement or a supplement
to the Prospectus and furnish to Buyer a reasonable number of copies of such post-effective amendment or supplement or file any
other required document so that (x) such Registration Statement shall not contain any untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the statements therein not misleading and (y) such
Prospectus shall not include an untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading;

 

(i)
use its reasonable best efforts to cause all such Registrable Securities to be listed, and to maintain the listing of such Registrable
Securities, on the national securities exchange on which the Common Stock is then listed and cause to be satisfied all requirements
and conditions of such securities exchange to the listing or quoting of such securities, including registering the applicable
class of Registrable Securities under the 1934 Act, if appropriate, and using its reasonable best efforts to cause such registration
to become effective pursuant to the rules of the SEC in accordance with the terms hereof;

 

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(j)
if requested by Buyer in connection with the offering of Registrable Securities, incorporate in a prospectus supplement or post-effective
amendment such information concerning Buyer or the intended method of distribution as Buyer reasonably requests to be included
therein and is reasonably necessary to permit the sale of the Registrable Securities pursuant to the Registration Statement, including
information with respect to the number of Registrable Securities being sold, the purchase price being paid therefor and any other
material terms of the offering;

 

(k)
otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the SEC and make available to
its stockholders, as soon as practicable but no later than 30 days following the end of the 12-month period beginning with the
first day of the Company’s first fiscal quarter commencing after the effective date of each Registration Statement filed
pursuant to this Agreement an earnings statement satisfying the provisions of Section 11(a) of the 1933 Act and Rule 158 thereunder;

 

(l)
make the Company’s executive officers available for customary presentations to investors to discuss the affairs of the Company
at times that may be mutually and reasonably agreed upon (including senior management participation in due diligence calls with
the underwriters (or Agent) and their counsel and, in the case of any marketed underwritten offering, participation in any road
show or other marketing activity as reasonably requested by the lead managing underwriters for such offering), and provide Buyer,
the underwriters and their respective counsel, accountants and other advisors reasonable access to its books and records and other
pertinent corporate documents and properties as shall be requested in order to conduct a due diligence investigation within the
meaning of the 1933 Act with respect to any applicable Registration Statement;

 

(m)
in connection with the preparation and filing of any Registration Statement, Prospectus, any amendments or supplements thereto,
and any other written communications with the SEC with respect thereto, (i) give Buyer, the underwriters or Agent (if applicable)
and their respective counsels the opportunity to review and provide comments on such Registration Statement, each Prospectus included
therein or filed with the SEC, each amendment thereof or supplement thereto, and any other written communications with the SEC
with respect thereto, (ii) fairly and in good faith consider such comments in any such documents prior to the filing thereof as
the counsel to Buyer, underwriters or Agent may reasonably request and not file or submit to the SEC any document to which Buyer
reasonably objects in writing, and (iii) make available such of the Company’s representatives as shall be reasonably requested
by Buyer or any Agent underwriter for discussion of such documents;

 

(n)
provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by such Registration
Statement from and after a date not later than the effective date of such Registration Statement;

 

(o)
cooperate with Buyer to facilitate the timely delivery, preparation and delivery of certificates (or evidence of direct registration),
with requisite CUSIP numbers, representing Registrable Securities to be sold pursuant to such Registration Statement or Rule 144
free of any restrictive legends and representing such number of shares of Common Stock and registered in such names as Buyer may
reasonably request a reasonable period of time prior to sales of Registrable Securities pursuant to such Registration Statement
or Rule 144; provided, that the Company may satisfy its obligations hereunder without issuing physical stock certificates
through the use of The Depository Trust Company’s Direct Registration System;

 

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(p)
to the extent the Company is a WKSI during the period in which this Agreement is in effect, use its best efforts to take such
actions as under its control to remain a WKSI and not become an “ineligible issuer” (as defined under Rule 405 under
the 1933 Act) during the period when any Registration Statement remains in effect;

 

(q)
if Buyer, in its sole and exclusive judgment, determines that it might be deemed to be an underwriter or a “controlling
person” (within the meaning of Section 15 of the 1933 Act and Section 20 of the 1934 Act) of the Company, permit Buyer to
participate in the preparation of any applicable Registration Statement and insert therein language, furnished to the Company
in writing, which in the reasonable judgment of Buyer and its counsel should be included;

 

(r)
take no direct or indirect action prohibited by Regulation M under the 1934 Act; provided, that, to the extent that any
prohibition is applicable to the Company, the Company will take all reasonable action to make any such prohibition inapplicable;
and

 

(s)
take such other actions as are reasonably required in order to expedite or facilitate the disposition of Registrable Securities
as contemplated hereby.

 

Section
4. Indemnification; Contribution

 

4.1
Indemnification by the Company. The Company agrees to indemnify and hold harmless Buyer, its officers, directors, managers,
members, partners, employees, agents, advisors, representatives, stockholders and Affiliates, each underwriter, broker or any
other Person acting on behalf of Buyer, and each Person, if any, who controls any of the foregoing Persons within the meaning
of Section 15 of the 1933 Act or Section 20 of the 1934 Act, as follows:

 

(a)
against any and all loss, liability, claim, damage, action, cost, judgment and expense whatsoever (including reasonable fees,
expenses and disbursements of attorneys and other professionals), joint or several, as incurred, to which any of the foregoing
Persons may become subject under the 1933 Act or otherwise, arising out of or based upon: (i) any untrue statement or alleged
untrue statement of a material fact contained in any Registration Statement, Prospectus, preliminary Prospectus, free writing
prospectus (as defined in Rule 405 under the 1933 Act), any amendment thereof or supplement thereto, including all documents incorporated
therein by reference, (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make
the statements therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances
under which they were made) not misleading, or (iii) any other violation or alleged violation by the Company (or any of its Affiliates)
of the 1933 Act, the 1934 Act, any state securities law, or any rule or regulation promulgated under the 1933 Act, the 1934 Act,
or any state securities law, relating to a Registration Statement, Prospectus, preliminary Prospectus, free writing prospectus
(as defined in Rule 405 under the 1933 Act) or any amendment thereof or supplement thereto filed in accordance with this Agreement;

 

(b)
against any and all loss, liability, claim, damage, action, cost, judgment and expense whatsoever (including reasonable fees,
expenses and disbursements of attorneys and other professionals), as incurred, to the extent of the aggregate amount paid in settlement
of any litigation, or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; and

 

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(c)
against any and all cost or expense whatsoever, as incurred (including reasonable fees, expenses and disbursements of attorneys
and other professionals), incurred in investigating, preparing, defending against or participating in (as a witness or otherwise)
any litigation, or investigation or proceeding by any third party or governmental agency or body, commenced or threatened, in
each case whether or not a party, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged
untrue statement or omission, to the extent that any such expense is not paid under Sections 4.1(a) or 4.1(b) above;

 

provided,
however, that the indemnity provided pursuant to this Section 4.1 does not apply to Buyer with respect to any loss,
liability, claim, damage, action, cost, judgment or expense to the extent arising out of any untrue statement or omission or alleged
untrue statement or omission made in good faith reliance upon and in conformity with written information furnished to the Company
by Buyer expressly for use in the Registration Statement (or any amendment thereto) or a Prospectus (or any amendment or supplement
thereto), to the extent incorporated therein.

 

4.2
Indemnification by Buyer. Buyer agrees to indemnify and hold harmless the Company, and each of its directors and officers
who signed a Registration Statement, and each Person, if any, who controls the Company within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act, solely with respect to information provided by Buyer referred to in the proviso to this
Section 4.2, against any loss, liability, claim, damage, action, cost, judgment and expense whatsoever resulting from any
untrue statement or alleged untrue statement of a material fact contained in a Registration Statement or Prospectus pursuant to
which the Registrable Securities of Buyer were registered (or any amendment thereof or supplement thereto) or any omission or
alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of
a Prospectus, in light of the circumstances under which they were made) not misleading; provided, however, that the indemnity
provided pursuant to this Section 4.2 shall only apply with respect to any loss, liability, claim, damage, action, cost
judgment or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made
in good faith reliance upon and in conformity with written information furnished to the Company by Buyer expressly for use in
the Registration Statement (or any amendment thereto) or the Prospectus (or any amendment or supplement thereto), to the extent
incorporated therein. Notwithstanding the provisions of this Section 4.2, Buyer and any permitted assignee shall not be
required to indemnify the Company, its officers, directors or control persons with respect to any amount in excess of the amount
of the total net proceeds (after deducting underwriting fees, commissions or discounts and other offering expenses) actually received
by Buyer or such permitted assignee, as the case may be, from sales of the Registrable Securities of Buyer under the Registration
Statement or Prospectus, as applicable, that is the subject of the indemnification claim.

 

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4.3
Conduct of Indemnification Proceedings. An indemnified party hereunder shall give reasonably prompt notice to the indemnifying
party of any action or proceeding commenced against it in respect of which indemnity may be sought hereunder, but failure to so
notify the indemnifying party (i) shall not relieve it from any liability which it may have under the indemnity agreement provided
in Section 4.1 or 4.2 above, unless and only to the extent it did not otherwise learn of such action and the lack
of notice by the indemnified party results in the forfeiture by the indemnifying party of substantial rights and defenses, and
(ii) shall not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification
obligation provided under Section 4.1 or 4.2 above and the contribution obligation provided in Section 4.4
below. If the indemnifying party so elects within a reasonable time after receipt of such notice, the indemnifying party may assume
the defense of such action or proceeding at such indemnifying party’s own expense with counsel chosen by the indemnifying
party and approved by the indemnified party, which approval shall not be unreasonably withheld; provided, however, that
the indemnifying party will not settle, compromise or consent to the entry of any judgment with respect to any such action or
proceeding without the written consent of the indemnified party unless such settlement, compromise or consent secures the unconditional
release of the indemnified party and does not include a statement as to or an admission of fault, culpability or a failure to
act, by or on behalf of any indemnified party; and provided further, that if the indemnified party reasonably determines
that a conflict of interest exists where it is advisable for the indemnified party to be represented by separate counsel or that,
upon advice of counsel, there may be legal defenses available to it which are different from or in addition to those available
to the indemnifying party (or in the situation where the indemnifying party fails to take reasonable steps necessary to defend
diligently the action or proceeding within 20 Business Days after receiving notice from the indemnified party that the indemnified
party believes the indemnifying party has failed to do so) or if such claim or litigation involves or could have an effect upon
matters beyond the scope of the indemnity provided hereunder, or if such action seeks an injunction or equitable relief against
any indemnified party or involves actual or alleged criminal activity, then the indemnifying party shall not be entitled to assume
such defense and the indemnified party shall be entitled to separate counsel at the indemnifying party’s expense, it being
understood, however, that the indemnifying party shall not, in connection with any one such action, claim or proceeding or separate
but substantially similar or related actions, claims or proceedings in the same jurisdiction arising out of the same general allegations
or circumstances, be liable for the fees and expenses of more than one additional firm of attorneys (together with appropriate
local counsel) at any time for all such indemnified parties. If the indemnifying party is not entitled to assume the defense of
such action or proceeding as a result of the second proviso to the preceding sentence, the indemnifying party’s counsel
shall be entitled to conduct the indemnifying party’s defense and counsel for the indemnified party shall be entitled to
conduct the defense of the indemnified party, it being understood that both such counsel will cooperate with each other to conduct
the defense of such action or proceeding as efficiently as possible. If the indemnifying party is not so entitled to assume the
defense of such action or does not assume such defense, the indemnifying party will not be liable for any settlement effected
without the written consent of the indemnifying party, not to be unreasonably withheld, delayed or conditioned. If an indemnifying
party is entitled to assume, and assumes, the defense of such action or proceeding in accordance with this paragraph, the indemnifying
party shall not be liable for any fees and expenses of counsel for the indemnified party incurred thereafter in connection with
such action or proceeding.

 

4.4
Contribution. In order to provide for just and equitable contribution in circumstances in which the indemnity agreement
provided for in Sections 4.1 and 4.2 above is for any reason held to be unenforceable by a court of competent jurisdiction
to any indemnified party, the indemnifying party and the indemnified party shall contribute to the aggregate losses, liabilities,
claims, damages, actions, costs, judgments and expenses of the nature contemplated by such indemnity agreement incurred by the
indemnifying party and the indemnified party, in such proportion as is appropriate to reflect the relative fault of the indemnifying
party on the one hand and the indemnified on the other hand, in connection with the statements or omissions which resulted in
such losses, liabilities, claims, damages, actions, costs, judgments or expenses as well as any other relevant equitable considerations.
The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether
the action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, relates to information supplied by the indemnifying party or the indemnified party (and, with respect to
Buyer, only written information expressly provided for use in the Registration Statement (or any amendment thereto) or the Prospectus
(or any amendment or supplement thereto), to the extent incorporated therein), and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such action.

 

    	 	11	 

     

    

 

The
parties hereto agree that it would not be just or equitable if contribution pursuant to this Section 4.4 were determined
by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred
to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 4.4, Buyer and any permitted
assignee shall not be required to contribute any amount in excess of the amount that it would have been obligated to pay by way
of indemnification if the indemnification provided for under Section 4.2 had been available under the circumstances (which,
for the avoidance of doubt, shall not exceed the total net proceeds (after deducting underwriting fees, commissions or discounts
and other offering expenses) actually received by Buyer or such permitted assignee, as the case may be, from sales of the Registrable
Securities of Buyer under the Registration Statement or Prospectus, as applicable, that is the subject of the contribution claim).

 

Notwithstanding
the foregoing, no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution from any indemnifying party who was not guilty of such fraudulent misrepresentation. For purposes of
this Section 4.4, each of Buyer’s officers, directors, managers, members, partners, employees, agents, advisors,
representatives, stockholders and Affiliates, each underwriter, broker or any other Person acting on behalf of Buyer, and each
Person, if any, who controls any of the foregoing Persons within the meaning of Section 15 of the 1933 Act or Section 20 of the
1934 Act, shall have the same rights to contribution as Buyer, and each director of the Company, each officer of the Company who
signed a Registration Statement and each Person, if any, who controls the Company within the meaning of Section 15 of the 1933
Act or Section 20 of the 1934 Act shall have the same rights to contribution as the Company.

 

In
addition, no Person shall be obligated to contribute hereunder for any amounts in payment for any settlement of any action or
claim, effected without such Person’s written consent.

 

4.5
Survival. The indemnification and contribution provisions in this Section 4 shall be a continuing right and shall
survive the registration and sale of any securities by any Person entitled to indemnification or contribution, as applicable hereunder,
and the expiration or termination of this Agreement.

 

    	 	12	 

     

    

 

Section
5. Registration Expenses

 

The
Company shall pay all expenses incident to the performance by the Company of its obligations under this Agreement and in connection
with the registration and disposition of Registrable Securities, including, without limitation, (i) all expenses incurred in connection
with the preparation, printing and distribution of any Registration Statement and Prospectus and all amendments and supplements
thereto; (ii) registration and filing fees (including, without limitation, any fees relating to filings required to be made with,
or the listing of any Registrable Securities on, any securities exchange or over-the-counter trading market on which the Registrable
Securities are listed or quoted); (iii) all fees and expenses of complying with securities or “blue sky” laws (including
fees and disbursements of legal counsel for Buyer in connection with “blue sky” qualifications of the securities and
determination of their eligibility for investment under the laws of such jurisdictions); (iv) all FINRA fees and fees of any applicable
stock exchange; (v) fees and disbursements of counsel for the Company and fees and expenses for the independent certified public
accountants retained by the Company (including the expenses or costs associated with the delivery of any opinions or comfort letters
and expenses of any audits incident to or required by any registration); (vi) all internal expenses of the Company (including
all salaries and expenses of its officers and employees performing legal or accounting duties and the expense of any annual audits);
(vii) the fees and expenses of any Person, including special experts, retained by the Company in connection with the preparation
of any Registration Statement; (viii) the fees, expenses and disbursements of legal counsel representing Buyer in connection with
the registration, offering or sale of Registrable Securities pursuant to, or the interpretation or enforcement of, this Agreement;
(ix) underwriting expenses (other than fees, commissions or discounts); and (x) messenger, telephone and delivery expenses. Buyer
shall be responsible for the payment of any underwriting discounts and selling commissions, fees and disbursements of Buyer’s
advisors (other than fees, expenses and disbursements of legal counsel to Buyer), and any stock transfer taxes applicable to the
sale or disposition of the Registrable Securities by Buyer pursuant to this Agreement. In addition, in an underwritten offering
in which selling stockholders and the Company participate, all selling stockholders and the Company shall bear underwriting discounts
and selling commissions, pro rata, in proportion to the respective amount of shares each sells in such offering.

 

Section
6. Rule 144 Compliance

 

The
Company shall use its reasonable best efforts to file as and when applicable, on a timely basis, all reports required to be filed
by it under the 1933 Act and the 1934 Act. The Company shall make and keep current public information available, as specified
in paragraph (c) of Rule 144 (or any successor rule) promulgated under the 1933 Act, at all times after the Closing Date. The
Company shall use its reasonable best efforts to take such further action as may be required from time to time to enable Buyer
to Transfer Registrable Securities without registration under the 1933 Act under the exemptions provided by Rule 144 or any other
exemption from registration. Upon the request of Buyer, the Company will promptly deliver to Buyer a written statement as to whether
it has complied with such requirements and, if not, the specifics thereof, as well as any such other information as may be reasonably
requested to allow Buyer to sell its Registrable Securities pursuant to Rule 144. In connection with any Transfer of Registrable
Securities by Buyer pursuant to Rule 144 promulgated under the 1933 Act, the Company shall cooperate with Buyer to facilitate
the timely preparation and delivery of certificates representing the Registrable Securities to be sold and not bearing any 1933
Act legend, and enable certificates for such Registrable Securities to be for such number of shares and registered in such names
as Buyer may reasonably request at least five Business Days prior to any sale of Registrable Securities hereunder or, if practicable,
and at the request of Buyer, have such Registrable Securities delivered electronically via deposit/withdrawal at custodian (“DWAC”)
through The Depository Trust Company.

 

    	 	13	 

     

    

 

Section
7. Miscellaneous

 

7.1
Additional Agreements: Certain Transactions.

 

(a)
In the event that any Common Stock or other Securities are issued in respect of, or in exchange for, or in substitution of the
Registrable Securities by reason of any reorganization, recapitalization, reclassification, merger, consolidation, spin-off, partial
or complete liquidation, share dividend, split-up, sale of assets, distribution to stockholders or combination of the shares or
any other similar change in the Company’s capital structure, the Company agrees that appropriate adjustments shall be made
to this Agreement to ensure that Buyer has, immediately after consummation of such transaction, substantially the same, and in
any event no less favorable in the aggregate, rights from the Company or another issuer of Securities, as applicable, as it has
immediately prior to the consummation of such issuance in respect of the Registrable Securities under this Agreement.

 

(b)
In the event that the Company elects to effect a registered offering of equity securities of any subsidiary or parent of the Company
(collectively, “Alternative Entities”) rather than the equity securities of the Company, whether as a result
of a reorganization of the Company or otherwise, Buyer and the Company shall cause the applicable Alternative Entity to enter
into an agreement with Buyer that provides Buyer with registration rights with respect to the equity securities of such Alternative
Entity that are substantially the same as, and in any event no less favorable in the aggregate to, the registration rights provided
to Buyer in this Agreement.

 

(c)
The Company shall not enter into any agreement, take any action or permit any change to occur with respect to the Company’s
Securities that is inconsistent with, or that violates or subordinates the rights granted to Buyer under this Agreement, and no
such agreement is currently in effect. The Company shall not grant any registration rights to third parties that are more favorable
than, or inconsistent with, the rights granted hereunder.

 

(d)
Each of the parties to this Agreement shall execute and deliver such additional documents, instruments, conveyances and assurances
and take such further actions as may be required to carry out the provisions hereof and to give effect to the transactions contemplated
hereby.

 

7.2
Entire Agreement. This Agreement constitutes the entire agreement between the Parties relating to the subject matter hereof
and supersedes all prior agreements, oral and written, between the Parties with respect to the subject matter hereof.

 

7.3
Transaction Costs. Except as otherwise provided herein or in the SPA, each of the parties hereto shall pay their respective
fees and expenses in connection with the transactions contemplated by this Agreement.

 

7.4
Modifications. Any amendment or modification to this Agreement, including this undertaking itself, shall only be valid
if effected by an instrument or instruments in writing and shall be effective against each of the parties hereto that has signed
such instrument or instruments. The parties agree that they jointly negotiated and prepared this Agreement and that this Agreement
will not be construed against any party on the grounds that such party prepared or drafted the same.

 

    	 	14	 

     

    

 

7.5
Notices. All notices, consents, requests, claims, demands and other communications under this Agreement shall be in writing
(which shall include communications by e-mail) and shall be delivered and deemed given if: (a) in person (on the Business Day
of such delivery as evidenced by the receipt of the personal delivery service), (b) by certified or registered mail return receipt
requested (one Business Day after being mailed), or (c) by e-mail (on the date of transmission):

 

If
to the Company:

 

OncoSec
Medical Incorporated

24
North Main Street

Pennington,
NJ 08534-2218

Attn:
Daniel J. O’Connor

Email:
docconor@oncosec.com

 

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

 

Alston
& Bird LLP

90
Park Avenue, 12th Floor

New
York, NY 10016

Attn:
Matthew W. Mamak

Email:
matthew.mamak@alston.com

 

If
to Buyer:

 

Grand
Decade Developments Limited

Unit
3302, The Center, 99 Queen’s Road Central

Hong
Kong

Attn:
Zhou Chao

Email:
zhouchao@chinagrandinc.com

 

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

 

Covington
& Burlington LLP

The
New York Times Building, 620 Eighth Avenue

New
York, 10018-1405

	Attn:	Jack
    S. Bodner
	 	Stephen
    A. Infante
	Email:	jbodner@cov.com
	 	sinfante@cov.com

 

or
to such other address as the Parties may designate in writing to the other in accordance with this Section 7.5. Any Party
may change the address to which notices are to be sent by giving written notice of such change of address to the other parties
in the manner above provided for giving notice.

 

7.6
Public Announcements. Except as required by Applicable Law or by the requirements of any stock exchange on which the securities
of a party hereto or any of its Affiliates are listed, no party to this Agreement will make, or cause to be made, any press release
or public announcement in respect of this Agreement or the transactions contemplated hereby or otherwise communicate with any
news media with respect to the foregoing without prior notification to the other parties, and the parties to this Agreement will
consult with each other and cooperate as to the form, timing and contents of any such press release, public announcement or disclosure.

 

    	 	15	 

     

    

 

7.7
Partial Invalidity. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under Applicable Law, but in case any one or more of the provisions contained in this Agreement shall, for any reason,
be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect
any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision
or provisions had never been contained herein unless the deletion of such provision or provisions would result in such a material
change as to cause completion of the transactions contemplated hereby to be unreasonable. To the extent the deemed deletion of
the invalid, illegal or unenforceable provision or provisions is reasonably likely to have a material adverse effect on the ability
of the Parties to consummate the transactions contemplated by this Agreement, the Parties shall endeavor in good faith to replace
the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as practicable
to that of the invalid, illegal or unenforceable provisions.

 

7.8
Assignment. No party hereto may assign, in whole or in part, or delegate all or any part of its rights, interests or obligations
under this Agreement without the prior written consent of the other party. Any assignment or delegation made without such consent
will be void. Notwithstanding the foregoing, Buyer shall be entitled to (a) assign its rights under this Agreement to any of its
Affiliates and to any purchaser or transferee of Registrable Securities (whereupon such Affiliate, purchaser or transferee shall
have the benefits of this Agreement as if such Affiliate, purchaser or transferee had originally been a party hereto), and (b)
assign any or all of its rights and obligations under this Agreement (in whole or in part) as collateral security in a financing
transaction.

 

7.9
Governing Law. Except to the extent that mandatory principles of Applicable Law require the application of the NRS, this
Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any
choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the
application of laws of any jurisdiction other than those of the State of New York.

 

7.10
Specific Performance. Each party acknowledges and agrees that the other party would be irreparably damaged if the provisions
of this Agreement are not performed in accordance with their terms and that any breach of this Agreement and the non-consummation
of the transactions contemplated hereby by either party could not be adequately compensated in all cases by monetary damages alone.
Accordingly, in addition to any remedy to which such other party may be entitled under Section 7.11, provisional measures
and injunctive relief necessary to protect the possibility of each party to seek specific performance from the other from the
tribunal referred to in Section 7.11 can be sought from any court of competent jurisdiction. Each of the parties hereto
(i) agrees that it shall not oppose the granting of any such relief and (ii) hereby irrevocably waives any requirement for the
security or posting of any bond in connection with any such relief (it is understood that clause (i) of this sentence is not intended
to, and shall not, preclude any party hereto from litigating on the merits the substantive claim to which such remedy relates).

 

    	 	16	 

     

    

 

7.11
Submission to Jurisdiction. The Parties agree that any Action seeking to enforce any provision of, or based on any matter
arising out of or in connection with, this Agreement or the transactions contemplated hereby (whether brought by any party or
any of its Affiliates or against any party or any of its Affiliates) shall be brought in the state or federal courts, as applicable,
in New York county in the State of New York, and each of the Parties irrevocably consents to the exclusive jurisdiction of such
courts (and of the appropriate appellate courts therefrom) in any such Action and irrevocably waives, to the fullest extent permitted
by Applicable Law, any objection that you may now or hereafter have to the laying of the venue of any such Action in any such
court or that any such Action brought in any such court has been brought in an inconvenient forum. Process in any such Action
may be served on any Party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting
the foregoing, each party agrees that service of process on such party as provided in Section 7.5 shall be deemed effective
service of process on such party.

 

7.12
Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

7.13
Waiver. The rights and remedies of the Parties to this Agreement are cumulative and not alternative. Neither the failure
nor any delay by any Party in exercising any right, power, or privilege under this Agreement will operate as a waiver of such
right, power, or privilege, and no single or partial exercise of any such right, power or privilege will preclude any other or
further exercise of such right, power or privilege or the exercise of any other right, power, privilege. To the maximum extent
permitted by Applicable Law, (a) no claim or right arising out of this Agreement can be discharged by one Party, in whole or in
part, by a waiver or renunciation of the claim or right unless in writing signed by the other Party; (b) no waiver that may be
given by a Party will be applicable except in the specific instance for which it is given; and (c) no notice to or demand on one
Party will be deemed to be a waiver of any obligation of such Party or of the right of the Party giving such notice or demand
to take further action without notice or demand as provided in this Agreement.

 

7.14
Counterparts. This Agreement may be executed in two (2) or more counterparts, all of which shall be considered one and
the same Agreement, and shall become effective when one counterpart has been signed by each Party and delivered to the other Party
hereto.

 

7.15
Rights Cumulative. All rights and remedies of each of the parties under this Agreement will be cumulative, and the exercise
of one or more rights or remedies will not preclude the exercise of any other right or remedy available under this Agreement or
Applicable Law.

 

7.16
Headings and Gender; Construction; Interpretation.

 

(a)
The captions and section headings contained in this Agreement are for convenience of reference only, do not form a part of this
Agreement and shall not affect in any way the meaning or interpretation of this Agreement. All references in this Agreement to
“Section” or “Article” shall be deemed to be references to a Section or Article of this Agreement unless
indicated otherwise.

 

(b)
Words used herein, regardless of the number and gender specifically used, shall be deemed and construed to include any other number,
singular or plural, and any other gender, masculine, feminine, or neuter, as the context requires. Whenever the words “include,”
“includes” or “including” are used in this Agreement, they shall be deemed followed by the words “without
limitation.”

 

(c)
Neither this Agreement nor any uncertainty or ambiguity herein shall be construed or resolved against Buyer or the Company, whether
under any rule of construction or otherwise. No Party to this Agreement shall be considered the draftsman. On the contrary, this
Agreement has been reviewed, negotiated and accepted by all Parties and their attorneys and shall be construed and interpreted
according to the ordinary meaning of the words so as fairly to accomplish the purposes and intentions of all the Parties.

 

7.17
No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors
and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or
equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Agreement; provided, however,
the parties hereto hereby acknowledge that the Persons set forth in Section 4 are express third-party beneficiaries of
the obligations of the parties hereto set forth in Section 4.

 

7.18
Survival. This Section 7 shall survive any termination of this Agreement.

 

[Signature
Page Follows]

 

    	 	17	 

     

    

 

IN
WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed on its behalf as of the date first herein
above set forth.

 

	 	COMPANY:
	 	 
	 	ONCOSEC
    MEDICAL INCORPORATED
	 	 	 
	 	By:	                  
	 	Name:	 
	 	Title	 
	 	 	 
	 	BUYER:
	 	 
	 	SIRTEX
                                         MEDICAL US HOLDINGS, INC.

	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature
Page to Registration Rights Agreement]Execution
Version

 

STOCK
PURCHASE AGREEMENT

 

by
and between

 

Grand
Decade Developments Limited

 

“Purchaser”

 

and

 

OncoSec
Medical Incorporated

 

“Issuer”

 

Dated
as of October 10, 2019

 

    	 	 	 

    	 

    

 

TABLE
OF CONTENTS

 

	ARTICLE
    1. PURCHASE AND SALE OF THE SHARES	1
	 	 
	 	1.1	Purchase
    and Sale of the Shares.	1
	 	1.2	Purchase
    Price.	2
	 	1.3	Payment
    of Purchase Price.	2
	 	1.4	Anti-Dilution.	2
	 	1.5	Purchaser
    Option.	2
	 	 	 	 
	ARTICLE
    2. PROCEDURE FOR CLOSING	3
	 	
	 	2.1	Time
    and Place of Closing.	3
	 	2.2	Transactions
    at the Closing.	3
	 	 	 	 
	ARTICLE
    3. REPRESENTATIONS AND WARRANTIES OF ISSUER	3
	 	 
	 	3.1	Corporate
    Existence and Power.	3
	 	3.2	Corporate
    Authorization.	4
	 	3.3	Governmental
    Authorization.	4
	 	3.4	Non-contravention.	5
	 	3.5	Capitalization.	5
	 	3.6	Subsidiaries.	7
	 	3.7	SEC
    Filings and the Sarbanes-Oxley Act.	8
	 	3.8	Financial
    Statements.	10
	 	3.9	Disclosure
    Documents.	10
	 	3.10	Absence
    of Certain Changes.	10
	 	3.11	No
    Undisclosed Liabilities.	11
	 	3.12	Compliance
    with Laws, Permits and Court Orders.	11
	 	3.13	Litigation.	12
	 	3.14	Properties.	12
	 	3.15	Intellectual
    Property.	13
	 	3.16	IT
    Systems; Privacy and Data Security.	17
	 	3.17	Taxes.	19
	 	3.18	Employee
    Benefit Plans; Labor Matters.	21
	 	3.19	Material
    Contracts.	25
	 	3.20	Finders’
    Fees.	27
	 	3.21	Opinion
    of Financial Advisor.	28
	 	3.22	Antitakeover
    Statutes.	28
	 	3.23	Regulatory
    Matters.	28
	 	3.24	Committee
    on Foreign Investment in the U.S. Pilot Program.	31
	 	3.25	Transactions
    with Affiliates.	32
	 	3.26	Insurance.	32
	 	3.27	Shares.	32

 

    	 	i	 

    	 

    

 

	 	3.28	No
    Disqualification Events.	32
	 	3.29	Listing
    and Maintenance Requirements.	33
	 	3.30	No
    Registration.	33
	 	3.31	Disclosure.	33
	 	 	 	 
	ARTICLE
    4. REPRESENTATIONS AND WARRANTIES OF PURCHASER	33
	 	
	 	4.1	Authority.	33
	 	4.2	Brokers
    and Finders.	34
	 	4.3	Beneficial
    Ownership of Common Stock.	34
	 	4.4	Availability
    of Funds.	34
	 	4.5	Certain
    Transactions and Confidentiality.	34
	 	4.6	Investment
    Risk; Disclosure of Information Acknowledgement of Risk.	35
	 	 	 	 
	ARTICLE
    5. COVENANTS OF ISSUER	35
	 	 
	 	5.1	Access
    and Information.	35
	 	5.2	Conduct
    of Business Prior to Closing.	35
	 	5.3	Issuer
    Stockholder Meeting.	39
	 	5.4	Nasdaq
    Listing.	40
	 	5.5	Exclusivity.	40
	 	5.6	Takeover
    Statutes.	41
	 	5.7	Interim
    Communications by Issuer.	41
	 	5.8	Lock-Up.	41
	 	5.9	Standstill.	41
	 	5.10	Anti-Dilution.	43
	 	5.11	Director
    Resignation.	44
	 	 	 	 
	ARTICLE
    6. MUTUAL COVENANTS	44
	 	 
	 	6.1	Notice
    of Certain Events.	44
	 	6.2	CFIUS.	45
	 	6.3	Further
    Mutual Covenants.	45
	 	6.4	Commercially
    Reasonable Efforts.	45
	 	6.5	Listing.	46
	 	 	 	 
	ARTICLE
    7. CONDITIONS PRECEDENT TO OBLIGATIONS OF PURCHASER	46
	 	 
	 	7.1	Representations
    and Warranties.	46
	 	7.2	Compliance
    by Issuer.	46
	 	7.3	No
    Injunction; Litigation.	46
	 	7.4	Consents;
    Authorizations; Approval of Legal Matters.	46
	 	7.5	No
    Material Adverse Change.	47

 

    	 	ii	 

    	 

    

 

	 	7.6	Closing
    Precedent Transactions.	47
	 	7.7	Simultaneous
    Closing.	47
	 	7.8	Issuer
    Approvals.	47
	 	 	 	 
	ARTICLE
    8. CONDITIONS PRECEDENT TO OBLIGATIONS OF ISSUER	47
	 	 
	 	8.1	Certificate
    Regarding Representations and Warranties.	47
	 	8.2	Compliance
    by Purchaser.	48
	 	8.3	No
    Injunction, Litigation.	48
	 	8.4	Consents;
    Authorizations; Approval of Legal Matters.	48
	 	8.5	Issuer
    Stockholder Approval.	48
	 	 	 	 
	ARTICLE
    9. CONFIDENTIALITY; PUBLIC ANNOUNCEMENTS	48
	 	 
	 	9.1	Confidentiality.	48
	 	9.2	Public
    Announcements.	49
	 	 	 	 
	ARTICLE
    10. TERMINATION	49
	 	 
	 	10.1	Termination.	49
	 	 	 	 
	ARTICLE
    11. GENERAL PROVISIONS	50
	 	 
	 	11.1	Definitions.	50
	 	11.2	Fees
    and Expenses.	63
	 	11.3	Notices.	63
	 	11.4	Assignment.	64
	 	11.5	No
    Benefit to Others.	64
	 	11.6	Headings
    and Gender; Construction; Interpretation.	65
	 	11.7	Counterparts.	65
	 	11.8	Integration
    of Agreement.	65
	 	11.9	Amendments.	66
	 	11.10	Waiver.	66
	 	11.11	Time
    of Essence.	66
	 	11.12	Governing
    Law.	66
	 	11.13	Jurisdiction.	64
	 	11.14	Waiver
    of Jury Trial.	64
	 	11.15	Partial
    Invalidity.	64
	 	11.16	Survival.	64
	 	11.17	Specific
    Enforcement.	64

 

	EXHIBIT
    A STOCKHOLDER AGREEMENT	A-1
	 	 
	EXHIBIT
    B REGISTRATION RIGHTS AGREEMENT	B-1
	 	 
	EXHIBIT
    C LICENSE AGREEMENT	C-1
	 	 
	EXHIBIT
    D AMENDMENT TO ARTICLES OF INCORPORATION	D-1
	 	 
	EXHIBIT
    E AMENDMENT TO BYLAWS	E-1
	 	 
	DISCLOSURE
    SCHEDULES	S-1

 

    	 	iii	 

    	 

    

 

STOCK
PURCHASE AGREEMENT

 

THIS
STOCK PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of October 10, 2019 by and between
Grand Decade Developments Limited, a British Virgin Islands limited company and a wholly owned subsidiary of China Grand Pharmaceutical
and Healthcare Holdings Limited, (“Purchaser”), and OncoSec Medical Incorporated, a Nevada corporation (“Issuer”).
Certain capitalized terms used in this Agreement are defined in Section 11.1.

 

WITNESSETH:

 

WHEREAS,
Issuer desires to sell and Purchaser desires to purchase shares of Issuer’s common shares, $0.0001 par value per share (the
“Common Stock” or the “Shares,” and each, a “Share”), for the consideration
and on the terms set forth in this Agreement;

 

WHEREAS,
as a condition and inducement to Purchaser’s willingness to enter into this Agreement and to consummate the Sale, Purchaser
and Issuer have entered into a Stockholder Agreement in substantially the same form as Exhibit A hereto (the “Stockholder
Agreement”);

 

WHEREAS,
as a condition and inducement to Purchaser’s willingness to enter into this Agreement and to consummate the Sale, Purchaser
and Issuer will enter into a Registration Rights Agreement in substantially the same form as Exhibit B hereto (the “Registration
Rights Agreement”); and

 

WHEREAS,
as a condition and inducement to Purchaser’s willingness to enter into this Agreement and to consummate the Sale, Purchaser
and Issuer have entered into a License Agreement in substantially the same form as Exhibit C hereto (the “License
Agreement”).

 

NOW,
THEREFORE, in consideration of the mutual representations, warranties, covenants and agreements contained in this Agreement, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree
as follows:

 

ARTICLE
1. PURCHASE AND SALE OF THE SHARES

 

1.1
Purchase and Sale of the Shares.

 

Subject
to the terms and conditions of this Agreement, Issuer shall sell, and Purchaser shall purchase 10,000,000 shares of Common Stock
(the “Purchased Shares”); and Issuer shall transfer and convey, and Purchaser shall purchase, the Purchased
Shares free and clear of any and all Liens (other than those imposed by the Articles of Incorporation and federal and state securities
Laws) (the “Sale”).

 

    	 	 	 

    	 

    

 

1.2
Purchase Price.

 

The
purchase price per Share for the Purchased Shares shall be $2.50 (the “Purchase Price”).

 

1.3
Payment of Purchase Price.

 

On
the Closing Date and subject to the satisfaction or waiver of the conditions set forth in ARTICLE 7 and ARTICLE 8
below, Purchaser shall pay or deliver to Issuer, with respect to the Purchased Shares, $25,000,000 in cash. Purchaser shall, at
the time of the transfer of funds, request evidence of such transfer from its bank for the purpose of assisting Issuer in confirming
receipt of the transfer and Issuer shall deliver the Purchased Shares to the Purchaser in accordance with Section 2.2.

 

1.4
Anti-Dilution.

 

If,
between the date of this Agreement and the Closing Date, the outstanding Common Stock shall have been changed into or exchanged
for a different number or kind of shares or securities as a result of any reorganization, recapitalization, reclassification,
stock dividend, stock split, reverse stock split or other substantially similar transaction (a “Recapitalization”),
a proportionate adjustment shall be made to the number of Purchased Shares, and to the Purchase Price for the Purchased Shares
so as to maintain Purchaser’s intended ownership of Issuer pursuant to this Agreement without giving effect to such Recapitalization.

 

1.5
Purchaser Option.

 

(a)
Notwithstanding Section 5.9, in consideration
of the agreements and obligations of the Parties contained herein, beginning on the Closing Date and ending on the first anniversary
of the Closing Date (the “Option Period”), Issuer hereby grants Purchaser an irrevocable and exclusive option
(the “Purchase Option”), but not the obligation, exercisable in Purchaser’s sole discretion (and which
may be exercised through one or more of Purchaser’s Affiliates), to offer to acquire the remaining outstanding Common Stock
at a purchase price per Share equal to the greater of (a) $4.50 or (b) 110% of the last closing stock price for the Common Stock
prior to the date of the Option Notice (as defined below).

 

(b)
Purchaser may exercise the Purchase Option (in
its sole discretion) at any time during the Option Period by delivery of a written notice (the “Option Notice”)
to Issuer stating the Purchaser’s intent to so exercise the Purchase Option, including the material terms of such proposed
transaction.

 

    	 	2	 

    	 

    

 

ARTICLE
2. PROCEDURE FOR CLOSING

 

2.1
Time and Place of Closing.

 

Subject
to the provisions of ARTICLE 10, the consummation of the Sale (the “Closing”) shall take place at the
offices of Alston & Bird LLP, 90 Park Avenue, New York, New York 10016 as soon as possible, but in any event no later than
ten Business Days after the date the conditions set forth in ARTICLE 7 and ARTICLE 8 (other than conditions that
by their nature are to be satisfied at the Closing, but subject to the satisfaction or, to the extent permissible, waiver of those
conditions at the Closing) have been satisfied or, to the extent permissible, waived by the Party entitled to the benefit of such
conditions, or at such other place or time as the Parties may mutually agree. The date on which the Closing occurs is referred
to in this Agreement as the “Closing Date.”

 

2.2
Transactions at the Closing.

 

At
the Closing, each of the following shall be delivered:

 

(a)
Issuer shall deliver
to Purchaser the Purchased Shares issuable at the Closing in book-entry form (via Direct Registration System, “DRS”)
and to the extent not previously delivered, the items required to be delivered by Issuer set forth
in ARTICLE 7 and a legal opinion of counsel to Issuer reasonably satisfactory to Purchaser and its counsel. Issuer
shall cause its transfer agent to provide a DRS statement reflecting the issuance and registration of the Purchased Shares in
the name of Purchaser at the Closing. The documents and certificates to be delivered hereunder by or on behalf of Issuer
at the Closing shall be in form and substance reasonably satisfactory
to Purchaser and its counsel.

 

(b)
Purchaser shall deliver to Issuer (i) the Purchase
Price as provided in Section 1.3 and (ii) the items set forth in ARTICLE 8 subject to the last sentence of Section
1.3. The documents and certificates to be delivered hereunder by or on behalf of Purchaser at the Closing shall be in form
and substance reasonably satisfactory to Issuer and its counsel.

 

ARTICLE
3. REPRESENTATIONS AND WARRANTIES OF ISSUER

 

Issuer
hereby represents and warrants to Purchaser on the date hereof and on the Closing Date (except
for any representations and warranties that are expressly stated to have been made as of a specified date, which shall have been
true and correct as of such specified date) that:

 

3.1
Corporate Existence and Power.

 

Issuer
is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Nevada and has all corporate
powers and all Permits required to carry on its business as now conducted. Issuer is duly qualified to do business as a foreign
corporation and is in good standing in each jurisdiction where such qualification is necessary, except for those jurisdictions
where failure to be so qualified have not had and would not reasonably be expected to have, individually or in the aggregate,
an Issuer Material Adverse Effect. Issuer has delivered or made available to Purchaser a true, correct and complete copy of the
Articles of Incorporation (including any certificates of designation), Bylaws or like organizational documents, each as in effect
(collectively, the “Charter Documents”), of Issuer and each of its Subsidiaries. Neither Issuer nor any of
its Subsidiaries is in violation of any of the provisions of its Charter Documents. Issuer has made available to Purchaser true,
correct and complete copies of the minutes (or, in the case of minutes that have not yet been finalized, a brief summary of the
meeting) of all meetings of stockholders, the Board and each committee of the Board and of the board of directors or equivalent
governing body, as the case may be, and committees thereof and equity holders of each of the Subsidiaries of Issuer for the three
year period ending on the date hereof; provided, however, that Issuer shall be permitted to redact
any minutes of the meetings that discuss any alternative transactions considered by the Board.

 

    	 	3	 

    	 

    

 

3.2
Corporate Authorization.

 

(a)
The execution, delivery and performance by Issuer
of this Agreement and the consummation by Issuer of the transactions contemplated hereby are within Issuer’s corporate powers
and, except for Issuer Stockholder Approval (as defined below), have been duly authorized by all necessary corporate action on
the part of Issuer. The affirmative vote of the holders of a majority of the outstanding Shares (the “Issuer Stockholder
Approval”) is the only vote of the holders of any class or series of capital stock of Issuer necessary to approve this
Agreement and the transactions contemplated hereby, including in connection with the Articles Amendment and the Bylaws Amendment
and any necessary approvals under Nasdaq rules. Issuer has duly executed and delivered this Agreement and, assuming due authorization,
execution and delivery by Purchaser, this Agreement constitutes a valid and binding obligation of Issuer enforceable against Issuer
in accordance with its terms (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
other laws affecting creditors’ rights generally and general principles of equity).

 

(b)
At a meeting duly called and held, the Board
affirmatively (i) determined that this Agreement and the transactions contemplated hereby are fair to, advisable and in the best
interests of Issuer and its stockholders, (ii) approved and adopted this Agreement, the Articles Amendment and the Bylaws Amendment
and the transactions contemplated hereby and thereby in accordance with the requirements of the NRS and Nasdaq rules, and (iii)
resolved to recommend the approval of this Agreement and the transactions contemplated hereby, including the Articles Amendment
and the Bylaws Amendment, by the stockholders of Issuer (such recommendation, the “Issuer Board Recommendation”).

 

3.3
Governmental Authorization.

 

The
execution, delivery and performance by Issuer of this Agreement and the consummation by Issuer of the transactions contemplated
by this Agreement requires no action by or in respect of, Permit from or filing by or with, any Governmental Authority other than
compliance with any applicable requirements of the 1933 Act, the 1934 Act, any other applicable U.S. state or federal securities
Laws and the rules and requirements of Nasdaq.

 

    	 	4	 

    	 

    

 

3.4
Non-contravention.

 

The
execution, delivery and performance by Issuer of this Agreement and the consummation of the transactions contemplated hereby do
not and will not (i) contravene, conflict with or result in any violation or breach of any provision of the Charter Documents
of Issuer or the comparable organizational documents of any Subsidiary of Issuer, (ii) assuming compliance with the matters referred
to in Section 3.3, contravene, conflict with or result in a violation or breach of any provision of any Applicable Law
by Issuer or any of its Subsidiaries, including Nasdaq rules, (iii) assuming compliance with the matters referred to in Section
3.3, require any Consent or other action by any Person under, constitute a breach or default, or an event that, with or without
notice or lapse of time or both, would constitute a breach or default, under, or cause or permit the termination, cancellation,
acceleration or other change of any right or obligation or the loss of any benefit to which Issuer or any of its Subsidiaries
is entitled under any provision of any Contract binding on Issuer or any of its Subsidiaries or any Permit affecting, or relating
in any way to, the assets or business of Issuer and its Subsidiaries or (iv) result in the creation or imposition of any Lien
on any asset of Issuer or any of its Subsidiaries.

 

3.5
Capitalization.

 

Issuer
amended its Articles of Incorporation, effective as of 5:00 p.m., Eastern Time, on May 20, 2019, by filing a certificate of change
(pursuant to NRS 78.209) with the Nevada Secretary of State to effect a 1-for-10 reverse split of Issuer’s authorized and
outstanding common stock. All applicable share and per share amounts reflected in this Agreement have been adjusted to reflect
the reverse stock split, unless otherwise specified. In addition the share amounts below reflect Issuer’s financing completed
on May 22, 2019.

 

    	 	5	 

    	 

    

 

(a)
The authorized capital stock of Issuer consists
solely of (i) 26,000,000 shares of Common Stock. As of October 9, 2019, there were outstanding (A) 10,669,022 shares of Common
Stock (of which zero shares represent unvested Issuer Restricted Shares), (B) 1,140,029 shares of Common Stock reserved under
the Employee Plans, of which there were outstanding 894,605 shares of Common Stock subject to issuance upon exercise of outstanding
Issuer Stock Options (which have a weighted average exercise price of $12.48 and 662,119 of which are currently exercisable),
(C) 3,631,953 shares of Common Stock subject to issuance upon exercise of outstanding Issuer Warrants (which have a weighted average
exercise price of $7.40 and 3,631,953 of which are currently exercisable), (D) 77,664 shares of Common Stock subject to issuance
upon settlement of Issuer RSUs, and (E) 37,608 shares of Common Stock reserved for issuance under the ESPP.. All outstanding shares
of capital stock of Issuer have been, and all shares that may be issued pursuant to any Employee Plan or Issuer Security will
be, when issued in accordance with the respective terms thereof and in compliance with the terms of this Agreement, duly authorized
and validly issued, fully paid and nonassessable and free of preemptive rights. Section 3.5(a) of the Issuer Disclosure Schedule
contains a true, correct and complete list, as of October 9, 2019, of each outstanding Issuer Stock Award, including the holder,
type of award (including, for an Issuer Stock Option, whether such award is intended to qualify as an “incentive stock option”
under Section 422 of the Code), date of grant, exercise price, expiration date, vesting schedule (including whether vesting accelerates
on specified “change in control” transactions), any early exercise or other special terms and the number of Shares
subject thereto. Each Issuer Stock Award has been granted in compliance in all material respects with all applicable securities
laws or exemptions therefrom and all requirements set forth in the applicable Employee Plan and applicable award agreements. The
exercise price of each Issuer Stock Option is not less than the fair market value (within the meaning of Section 409A of the Code)
of a Share on the date of grant of such Issuer Stock Option, and no Issuer Stock Option provides for a deferral of compensation
within the meaning of Section 409A of the Code. No shares of Common Stock have been treated by Issuer or any of its Subsidiaries
as issued pursuant to the exercise of an “incentive stock option” under Section 422 of the Code. At all times, the
ESPP has qualified as an “employee stock purchase plan” under Section 423 of the Code, and all options to purchase
shares under the ESPP (now outstanding or previously exercised or forfeited) have satisfied Applicable Law, including the requirements
of Section 423 of the Code. $12,500 is the maximum dollar amount that could be contributed in the aggregate to the ESPP for the
Final Offering Period.

 

(b)
There are no outstanding bonds, debentures, notes
or other indebtedness of Issuer having the right to vote (or convertible into, or exchangeable or exercisable for, securities
having the right to vote) on any matters on which stockholders of Issuer may vote. Except as set forth in this Section 3.5
resulting from the exercise of Issuer Stock Options outstanding on such date in accordance with the terms thereof on such
date, the exercise of Issuer Warrants outstanding on such date in accordance with the terms thereof on such date, the issuance
of Shares pursuant to the vesting of Issuer RSUs outstanding on such date in accordance with the terms thereof on such date and
the purchase of Shares pursuant to the ESPP in accordance with its terms as in effect on such date, there are no issued, reserved
for issuance or outstanding (i) shares of capital stock or other voting securities of, or ownership interests in, Issuer, (ii)
securities of Issuer convertible into, or exchangeable or exercisable for, shares of capital stock or other voting securities
of, or ownership interests in, Issuer, (iii) warrants, calls, options or other rights to acquire from Issuer, or other obligations
of Issuer to issue, any capital stock or other voting securities of, or ownership interests in, or any securities convertible
into, or exchangeable or exercisable for, any capital stock or other voting securities of, or ownership interests in, Issuer or
(iv) restricted shares, restricted stock units, stock appreciation rights, performance units, contingent value rights, “phantom”
stock or similar securities or rights that are derivative of, or provide economic benefits based, directly or indirectly, on the
value or price of, any capital stock or voting securities of, or ownership interests in, Issuer (the items in clauses (i) through
(iv), including, for the avoidance of doubt, the Shares, being referred to collectively as the “Issuer Securities”).
There are no outstanding obligations of Issuer or any of its Subsidiaries to repurchase, redeem or otherwise acquire any of the
Issuer Securities. Neither Issuer nor any of its Subsidiaries is a party to any Contract with respect to the voting, registration
or transfer of any Issuer Securities.

 

    	 	6	 

    	 

    

 

(c)
Except as set forth in this Section 3.5,
none of the Shares or any Issuer Securities are owned by any Subsidiary of Issuer.

 

3.6
Subsidiaries.

 

(a)
Each Subsidiary of Issuer has been duly incorporated,
is validly existing and (where applicable) in good standing under the laws of its jurisdiction of organization, has all organizational
powers and all Permits required to carry on its business in the places and in the manner as now conducted except for those Permits
the absence of which have not had and would not reasonably be expected to have, individually or in the aggregate, an Issuer Material
Adverse Effect. Each Subsidiary of Issuer is identified in Section 3.6 of the Issuer Disclosure Schedule.

 

(b)
All of the outstanding shares, capital stock
or other voting securities of, or ownership interests in, each Subsidiary of Issuer have been duly authorized and validly issued,
are fully paid and non-assessable (with respect to each Subsidiary that is a corporation) and free of preemptive rights and are
owned beneficially and legally, and solely, by Issuer, directly or indirectly, free and clear of any Lien and free of any other
limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such share, capital stock
or other voting securities or ownership interests). There are no issued, reserved for issuance or outstanding (i) shares or other
securities of Issuer or any of its Subsidiaries convertible into, or exchangeable or exercisable for, shares, capital stock or
other voting securities of, or ownership or economic interests in, any Subsidiary of Issuer, (ii) warrants, calls, options or
other rights to acquire from Issuer or any of its Subsidiaries, or other obligations of Issuer or any of its Subsidiaries to issue,
any shares, capital stock or other voting securities of, or ownership interests in, or any securities convertible into, or exchangeable
or exercisable for, any shares, capital stock or other voting securities of, or ownership or economic interests in, any Subsidiary
of Issuer or (iii) restricted shares, restricted stock units, stock appreciation rights, performance units, contingent value rights,
“phantom” stock or similar securities or rights that are derivative of, or provide economic benefits based, directly
or indirectly, on the value or price of, any share, capital stock or other voting security of, or ownership interest in, any Subsidiary
of Issuer (the items in clauses (i) through (iii) being referred to collectively as the “Issuer Subsidiary
Securities”). There are no outstanding obligations of Issuer or any of its Subsidiaries to repurchase, redeem or otherwise
acquire any of the Issuer Subsidiary Securities. Except for the shares, capital stock or other voting securities of, or ownership
interests in, its Subsidiaries, Issuer does not own, directly or indirectly, any shares, capital stock or other voting securities
of, or ownership interests in, any Person. All dividends or distributions declared, made or paid by the Subsidiaries of Issuer
have been declared, made or paid in accordance with the applicable Subsidiary’s constitutional documents, all Applicable
Law and any agreements or arrangements made with any Third Party regulating the payment of dividends and distributions. No shares,
capital stock or other voting securities of the Subsidiaries of Issuer have been issued and no transfer of any such shares has
been registered (where applicable), except in accordance with all Applicable Laws and the constitutional documents of the relevant
Subsidiary of Issuer, and all transfers have been duly stamped (where applicable).

 

    	 	7	 

    	 

    

 

3.7
SEC Filings and the Sarbanes-Oxley Act.

 

(a)
Other than as reflected in the relevant document,
Issuer has timely filed with or furnished to the SEC, and made available to Purchaser, all reports, schedules, forms, statements,
prospectuses, registration statements and other documents required to be filed with or furnished to the SEC by Issuer (collectively,
together with any exhibits and schedules thereto and other information incorporated therein, the “Issuer SEC Documents”).
Issuer has made available to Purchaser true, correct and complete copies of all material correspondence between the SEC, on the
one hand, and Issuer and any of its Subsidiaries, on the other hand, including all comment letters from the staff of the SEC relating
to Issuer SEC Documents containing unresolved comments and all written responses of Issuer thereto. To Issuer’s Knowledge,
as of the date hereof, no Issuer SEC Document is the subject of ongoing review, comment or investigation by the SEC. No Subsidiary
of Issuer is, or at any time has been, required to file any reports, schedules, forms, statements or other documents with the
SEC.

 

(b)
As of its filing date (and as of the date of
any amendment), each Issuer SEC Document complied, and each Issuer SEC Document filed subsequent to the date hereof will comply,
as to form in all material respects with the applicable requirements of the 1933 Act, the 1934 Act and the Sarbanes-Oxley Act,
as the case may be.

 

(c)
As of its filing date (or, if amended or superseded
by a filing prior to the date hereof, on the date of such filing), each Issuer SEC Document filed did not, and each Issuer SEC
Document filed subsequent to the date hereof will not, contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not
misleading.

 

(d)
Each Issuer SEC Document that is a registration
statement, as amended or supplemented, if applicable, filed pursuant to the 1933 Act, as of the date such registration statement
or amendment became effective, did not contain any untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein not misleading.

 

    	 	8	 

    	 

    

 

(e)
Issuer and its Subsidiaries have established
and maintain disclosure controls and procedures and internal control over financial reporting (as such terms are defined in Rule
13a-15 under the 1934 Act) as required by Rule 13a-15 under the 1934 Act. Such disclosure controls and procedures are designed
to ensure that all material information relating to Issuer, including its consolidated Subsidiaries, is made known to Issuer’s
principal executive officer and its principal financial officer by others within those entities, particularly during the periods
in which the periodic reports required under the 1934 Act are being prepared. Such disclosure controls and procedures are effective
in timely alerting Issuer’s principal executive officer and principal financial officer to material information required
to be included in Issuer’s periodic and current reports required under the 1934 Act. For purposes of this Agreement, “principal
executive officer” and “principal financial officer” shall have the meanings given to such terms in the Sarbanes-Oxley
Act.

 

(f)
Issuer and its Subsidiaries have established
and maintain a system of internal controls over financial reporting (as defined in Rule 13a-15 under the 1934 Act) sufficient
to provide assurance regarding the reliability of Issuer’s financial reporting and the preparation of Issuer financial statements
for external purposes in accordance with GAAP. Issuer has disclosed, based on its most recent evaluation of internal controls
prior to the date hereof, to Issuer’s auditors and audit committee (i) any significant deficiencies and material weaknesses
in the design or operation of internal controls that are reasonably likely to adversely affect Issuer’s ability to record,
process, summarize and report financial information and (ii) any fraud, whether or not material, that involves management or other
employees who have a role in internal controls. Issuer has made available to Purchaser a summary of any such disclosure made by
management to Issuer’s auditors and audit committee for the three year period ending on the date hereof.

 

(g)
Section 3.7(g) of the Issuer Disclosure Schedule
describes, and Issuer has made available to Purchaser copies of the documentation creating or governing, all securitization transactions
and other off-balance sheet arrangements (as defined in Item 303 of Regulation S-K) that existed or were effected by Issuer or
its Subsidiaries during the three year period ending on the date hereof.

 

(h)
Issuer has complied with and is in compliance
in all material respects with all applicable listing and corporate governance rules, regulations and requirements of Nasdaq, and
is in compliance in all material respects with all rules, regulations and requirements of the SEC and with the Sarbanes-Oxley
Act. There are no outstanding loans or other extensions of credit made by Issuer or any of its Subsidiaries to any executive officer
(as defined in Rule 3b-7 under the 1934 Act) or director of Issuer.

 

(i)
Each of the principal executive officer and principal
financial officer of Issuer (or each former principal executive officer and principal financial officer of Issuer, as applicable)
has made all certifications required by Rule 13a-14 and 15d-14 under the 1934 Act and Sections 302 and 906 of the Sarbanes-Oxley
Act and any related rules and regulations promulgated by the SEC and Nasdaq, and the statements contained in any such certifications
are true, correct and complete as of their respective dates.

 

    	 	9	 

    	 

    

 

(j)
There are no Contracts between Issuer or any
of its Subsidiaries, on the one hand, and any other Person (other than Issuer and its Subsidiaries), on the other hand, that would
be required to be disclosed under Item 404 of Regulation S-K.

 

3.8
Financial Statements.

 

The
audited consolidated financial statements and unaudited consolidated interim financial statements of Issuer included or incorporated
by reference in Issuer SEC Documents (i) as of their respective dates of filing with the SEC complied as to form in all material
respects with the rules and regulations of the SEC with respect thereto, (ii) fairly present in all material respects the consolidated
financial position of Issuer and its consolidated Subsidiaries as of the dates thereof and their consolidated results of operations
and cash flows for the periods then ended (subject to normal year-end audit adjustments in the case of any unaudited interim financial
statements which are not material in the aggregate) and (iii) have been prepared in accordance with GAAP applied on a consistent
basis (except as may be expressly indicated in the notes thereto). The Books and Records of Issuer and its Subsidiaries have been,
and are being, maintained in all material respects in accordance with GAAP.

 

3.9
Disclosure Documents.

 

(a)
At the time the proxy statement to be filed with
the SEC in connection with the Sale (the “Issuer Proxy Statement”) or any amendment or supplement thereto is
first mailed to stockholders of Issuer, at the time such stockholders vote on approval of this Agreement and at the Closing, the
Issuer Proxy Statement, as supplemented or amended, if applicable, will not contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of
the circumstances under which they were made, not misleading.

 

(b)
Notwithstanding the foregoing in this Section
3.9, Issuer makes no representation with respect to statements made or incorporated by reference in the Issuer Proxy Statement
based on information supplied by or on behalf of Purchaser for inclusion or incorporation by reference therein.

 

3.10
Absence of Certain Changes.

 

(a)
Since the Issuer Balance Sheet Date, the business
of Issuer and its Subsidiaries has been conducted in the Ordinary Course of Business consistent with past practices and there
has not been any event, occurrence, development or state of circumstances or facts that has had or would be expected to have,
individually or in the aggregate, an Issuer Material Adverse Effect.

 

(b)
From the Issuer Balance Sheet Date until the
date hereof, there has not been any action taken by Issuer or any of its Subsidiaries that, if taken during the period from the
date of this Agreement through the Closing without Purchaser’s consent, would constitute a breach of Section 5.2.

 

    	 	10	 

    	 

    

 

3.11
No Undisclosed Liabilities.

 

There
are no Liabilities of Issuer or any of its Subsidiaries of any kind whatsoever, whether accrued, contingent, absolute, known,
unknown, determined, determinable or otherwise, and there is no existing condition, situation or set of circumstances that would
reasonably be expected to result in such a Liability, other than: (i) Liabilities disclosed and reserved for in the Issuer Interim
Balance Sheet or in the notes thereto, (ii) Liabilities arising out of or in connection with this Agreement and the transactions
contemplated hereby and (iii) Liabilities (including Liabilities incurred in the Ordinary Course of Business since the Issuer
Balance Sheet Date) that have not had and would not reasonably be expected to have, individually or in the aggregate, an Issuer
Material Adverse Effect.

 

3.12
Compliance with Laws, Permits and Court Orders.

 

(a)
Issuer and each of its Subsidiaries is, and in
the three year period ending on the date hereof has been, in material compliance with all Applicable Laws. Issuer is not currently
being threatened, and in the three year period ending on the date hereof, Issuer has not been threatened, in each case to be charged
with or has been given notice of, and to the Knowledge of Issuer is not under investigation with respect to, any violation of
any Applicable Law. There is no Order of any arbitrator or Governmental Authority outstanding against Issuer or any of its Subsidiaries.

 

(b)
None of Issuer, any of its Subsidiaries, or any
of their respective directors, officers, consultants, agents or other Persons acting for or on their behalf, has taken any action
that would result in a violation by such Person of (i) the Foreign Corrupt Practices Act of 1977 (15 U.S.C. §§ 78m(b),
78dd-1, 78dd-2, 78ff) (the “FCPA”), the Bribery Act of 2010 of the United Kingdom (the “UK Bribery
Act”) or any other anti-corruption or anti-bribery Applicable Law, (ii) any economic sanctions administered or enforced
by the U.S. Department of Treasury’s Office of Foreign Assets Control, the U.S. Department of State, Her Majesty’s
Treasury or any applicable prohibited party list maintained by any U.S. government agency, the European Union or Her Majesty’s
Treasury (collectively, “Sanctions”) and (iii) any applicable export controls laws. Issuer has conducted its
businesses in compliance with the FCPA (and any state or foreign equivalents), the UK Bribery Act, any other anti-corruption Applicable
Law (including the Federal Anti-Kickback Statute (42 U.S.C. § 1320a-7b), the federal False Claims Act (31 U.S.C. § 3729
et seq.), and any state or foreign equivalents), Sanctions and applicable export controls laws, and Issuer has instituted and
maintained policies and procedures designed to cause each such Person to comply with all such Applicable Law.

 

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(c)
None of Issuer, any of its Subsidiaries or any
of their respective directors, officers, consultants, agents or other Persons acting for or on their behalf, is a Person that
is, or is owned or controlled by Persons that are: (i) the subject of any Sanctions or (ii) located, organized or resident in
a country or region that is the subject of Sanctions.

 

(d)
Issuer and its Subsidiaries hold all material
Permits necessary or advisable to conduct their respective businesses in the places and in such manner in which such businesses
are currently being conducted. (i) Such Permits are valid and in full force and effect and are not subject to any pending or threatened
Action by any Governmental Authority to suspend, cancel, modify, terminate or revoke any such Permit, (ii) Issuer and each of
its Subsidiaries are in compliance with the terms and requirements of such Permits, (iii) neither Issuer or any of its Subsidiaries
is in material default under, and no condition exists that with notice or lapse of time or both would constitute a material default
under or would reasonably be expected to result in any suspension, cancellation, modification, termination or revocation of, any
such Permit and (iv) none of the Permits shall be terminated or impaired or become terminable, in whole or in part, as a result
of the transactions contemplated hereby.

 

3.13
Litigation.

 

There
is no Action pending against, or, to the Knowledge of Issuer, threatened against or affecting, Issuer, any of its Subsidiaries,
any present or former officer, director or employee of Issuer or any of its Subsidiaries, or any Person for whom Issuer or any
of its Subsidiaries may be liable or any of their respective properties before (or, in the case of threatened Actions, would be
before) or by any Governmental Authority or arbitrator.

 

3.14
Properties.

 

(a)
Issuer and its Subsidiaries have good title to,
or good and valid leasehold interests in, all property and assets reflected on the Issuer Balance Sheet or acquired after the
Issuer Balance Sheet Date, except as have been disposed of since the Issuer Balance Sheet Date in the Ordinary Course of Business
and in compliance with this Agreement, in each case free and clear of all Liens (other than Permitted Liens). The properties and
assets owned or leased by Issuer and its Subsidiaries constitute all of the properties and assets necessary for, and used or useful
in, the conduct of their respective businesses in the places and in such manner in which such businesses are currently being conducted.
Neither Issuer nor any of its Subsidiaries owns or has ever owned any interest in real property.

 

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(b)
(i) Each lease, sublease, license or other use
or occupancy agreement (each, a “Lease”) under which Issuer or any of its Subsidiaries leases, subleases, licenses
or otherwise uses or occupies any real property (whether as lessor or lessee) is valid and in full force and effect and (ii) neither
Issuer nor any of its Subsidiaries, nor to Issuer’s Knowledge any other party to a Lease, has violated any provision of,
or taken or failed to take any act which, with or without notice, lapse of time, or both, would constitute a breach or default
under the provisions of such Lease, except for those breaches or defaults that, individually or in the aggregate, are not and
would not reasonably be expected to be material to Issuer and its Subsidiaries, and neither Issuer nor any of its Subsidiaries
has received notice that it has breached, violated or defaulted under any Lease. Section 3.14(b) of the Issuer Disclosure Schedule
sets forth a true, correct and complete list of all Leases to which Issuer or any of its Subsidiaries is a party, including all
amendments, extensions, renewals and guarantees with respect thereto, in each case identifying
the tenant or lessee and the landlord or lessor under each such Lease and the address of the real property associated with such
Lease (such property, together with all rights, title and interest of Issuer or any Subsidiary in and to leasehold improvements
relating thereto, including security deposits, reserves or prepaid rents paid in connection therewith, collectively, the “Leased
Real Property”). Issuer has made available to Purchaser (in each case, together with all amendments, modifications,
supplements, waivers or other changes thereto) true, correct and complete copies of all Leases. The performance by Issuer of this
Agreement and the transactions contemplated hereby will not result in the termination of, or in any increase of any material amounts
payable under, any Lease or any material rights under any Lease or will require the Consent from any party to any such Lease other
than Issuer. With respect to any Leased Real Property, Issuer and any of its Subsidiaries enjoys peaceful and undisturbed possession
of the Leased Real Property.

 

3.15
Intellectual Property.

 

(a)
Section 3.15(a) of the Issuer Disclosure Schedule
sets forth a true, correct and complete list of all Issuer Intellectual Property Rights specifying as to each such item, as applicable
(i) the record and legal owner (or the co-owners) thereof, and, as applicable, all inventors thereof, (ii) the jurisdiction (foreign
and domestic) in which such item is issued, granted, or registered or in which any application for issuance, grant or registration
has been filed and, in the case of domain names and social media tags, handles and other identifiers, the registrant and registrar
and the social media platform and account holder, respectively, (iii) the respective issuance, grant, registration, filing or
application number of such item, (iv) the dates of filing, application, issuance, grant and registration of such item and (v)
in the case of each of such item that is a Licensed Intellectual Property Right, whether the applicable Licensed Intellectual
Property Right is exclusively or non-exclusively licensed or sublicensed to Issuer or any of its Subsidiaries, and the applicable
Contract pursuant to which Issuer or any of its Subsidiaries receives its rights to such Licensed Intellectual Property Right.

 

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(b)
Issuer and its Subsidiaries (i) are the sole
and exclusive owners of all Owned Intellectual Property Rights and hold all right, title and interest in and to all Owned Intellectual
Property Rights and (ii) have a valid and enforceable license to the Licensed Intellectual Property Rights, in each case (clauses
(i) and (ii)), free and clear of any Lien. Issuer and its Subsidiaries have taken all commercially reasonable steps to protect,
preserve and maintain their rights, title and interests in and to Issuer Intellectual Property Rights. The Owned Intellectual
Property Rights constitute all of the Intellectual Property Rights necessary to, or used or held for use in, the conduct of the
business of Issuer and its Subsidiaries as currently conducted and as proposed by Issuer or any of its Subsidiaries to be conducted
in Issuer SEC Documents. There exist no material restrictions on the disclosure, use, license or transfer of Issuer Intellectual
Property Rights. The consummation of the transactions contemplated by this Agreement will not (i) alter, encumber, impair or extinguish
any of Issuer’s or any of its Subsidiaries’ rights in, to or under any Issuer Intellectual Property Right or the validity,
enforceability, right to practice or use, registration, right to register, license, assign or transfer, ownership, priority, duration,
scope or effectiveness of any of Issuer Intellectual Property Rights, (ii) trigger termination of any licensed rights in, or any
additional payment obligations with respect to, any of Issuer Intellectual Property Rights, (iii) impair the right of Purchaser
to develop, use, sell, license or dispose of, or to bring any Action for the infringement of, any Issuer Intellectual Property
Right or (iv) through the operation of any Contracts to which Issuer or any of its Subsidiaries is a party or otherwise bound,
encumber any of the Intellectual Property Rights owned by or licensed to Purchaser.

 

(c)
Documentation evidencing the complete chains
of title with respect to all Issuer Intellectual Property Rights have been timely and properly recorded with the U.S. Patent and
Trademark Office, the U.S. Copyright Office or their foreign equivalents, as applicable. Issuer possesses full and reliable documentation
evidencing complete and accurate chains of title for each of the Issuer Intellectual Property Rights that is a Patent.

 

(d)
To the Knowledge of Issuer, no funding, facilities
or personnel of any Governmental Authority or any university, college, research institute or other educational institution has
been or is being used in any respect to create, in whole or in part, any Issuer Intellectual Property Rights, except for any such
funding or use of facilities or personnel that does not result in such Governmental Authority or educational institution obtaining
ownership of, or use rights to, such Issuer Intellectual Property Rights, and does not require or otherwise obligate Issuer or
any of its Subsidiaries to grant or offer to any such Governmental Authority or educational institution any license or other right
to such Issuer Intellectual Property Rights or except as set forth in Section 3.15(d) of the Issuer Disclosure Schedule. To the
Knowledge of Issuer, no current or former employee or Independent Contractor of Issuer or any of its Subsidiaries who contributed
to the creation or development of Issuer Intellectual Property Rights has performed services for a Governmental Authority or any
university, college, research institute or other educational institution related to Issuer’s business as presently conducted
during a period of time during which such employee or Independent Contractor was also performing services for Issuer or any of
its Subsidiaries. As it relates to any Issuer Intellectual Property Rights in which the U.S. government has rights, Issuer has
taken all necessary steps to comply with the Bayh-Dole Act (35 U.S.C. §§ 200 -212) and any regulations related thereto,
including making all necessary disclosures to the relevant funding agencies and complying with the domestic manufacturing requirement
as set forth in 35 U.S.C. § 204.

 

(e)
The conduct of the business of Issuer, including
the Exploitation of any Products, as such business (i) has been, and is currently, conducted and (ii) proposed to be conducted
in Issuer SEC Documents, in each case (clauses (i)-(ii)), did not, does not and will not, infringe upon, misappropriate
or otherwise violate any Intellectual Property Right (or any right therein, thereto or thereunder) of any Third Party.

 

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(f)
No rights or licenses to intellectual property
that are not included in Issuer Intellectual Property Rights are required for Purchaser to Exploit the Products or to conduct
the business of Issuer, as currently conducted or proposed to be conducted in Issuer SEC Documents.

 

(g)
There is no Action pending, or concluded, against,
or, to the Knowledge of Issuer, threatened against or affecting, Issuer or any of its Subsidiaries, or affecting the conduct of
the respective businesses of Issuer or any of its Subsidiaries (including the research, development, manufacture, marketing, promotion,
offering for sale, sale or other commercialization, shipment, import, export, distribution or the seeking of regulatory approval,
as applicable, of any Products) (i) based upon, or challenging or seeking to deny or restrict, any right of Issuer or any of its
Subsidiaries in any of Issuer Intellectual Property Rights, (ii) alleging that any of Issuer Intellectual Property Rights are
invalid or unenforceable, or seeks to deny or restrict the legality, scope, duration, priority, right to practice or use, right
to register, registration or ownership of Issuer Intellectual Property Rights, (iii) alleging that the use of any of Issuer Intellectual
Property Rights or any services provided, processes used or products manufactured, used, imported, offered for sale or sold by
Issuer or any of its Subsidiaries do or may conflict with, misappropriate, infringe, contribute to the infringement of, or otherwise
violate any Intellectual Property Right of any Person or (iv) alleging that Issuer or any of its Subsidiaries have infringed,
misappropriated or otherwise violated any Intellectual Property Right of any Person. To the Knowledge of Issuer, there are no
facts or circumstances that could give rise to any such Action based upon or alleging any of the foregoing in clauses (i)-(iv).
Neither Issuer nor any of its Subsidiaries has received from any Person any offer to license any Intellectual Property Rights
of such Person in connection with any actual or threatened claim of infringement, misappropriation or other violation of any such
Intellectual Property Rights.

 

(h)
All Issuer Intellectual Property Rights are valid,
enforceable and in full force and effect, and all Issuer Intellectual Property Rights that are the subject of an application for
issuance, grant or registration are valid and subsisting. None of Issuer Intellectual Property Rights has been adjudged invalid
or unenforceable in whole or part by a court or administrative agency, or in the case of pending Patent applications included
in Issuer Intellectual Property Rights, have been the subject of a final and unappealable finding of unpatentability. All issued
Patents, registered Trademarks, registered Copyrights and applications for any of the foregoing included in Issuer Intellectual
Property Rights were applied for, registered and filed in compliance with Applicable Law, and all filings, payments and other
actions required to be made or taken to maintain the application, prosecution or registration of such Issuer Intellectual Property
Rights in full force and effect have been fully and timely made by the applicable deadline.

 

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(i)
No Issuer Intellectual Property Rights that are
material to the Exploitation of any Product have been abandoned, cancelled, forfeited, relinquished, allowed to lapse or rejected
by any action or failure to take action by Issuer or its Subsidiaries or, to the Knowledge of Issuer, by any of its or their licensors
or sublicensors.

 

(j)
None of Issuer or its Subsidiaries, or, to the
Knowledge of Issuer, any licensor of any Licensed Intellectual Property Right, in each case, has received any written opinions
from counsel with respect to the validity, invalidity, enforceability, unenforceability, non-infringement or infringement of any
of Issuer Intellectual Property Rights, or with respect to the infringement or misappropriation of any Patent or other Intellectual
Property of any Third Party in connection with the Exploitation of any Products.

 

(k)
To the Knowledge of Issuer, no Person has infringed,
misappropriated or otherwise violated any Owned Intellectual Property Right.

 

(l)
Except for those licenses and parties identified
in Section 3.15(l) of the Issuer Disclosure Schedule, none of Issuer or its Subsidiaries has granted any licenses, sublicenses,
options, interests or other rights (including covenants not to sue and immunities from suit) in or with respect to Issuer Intellectual
Property Rights to any Third Parties.

 

(m)
Issuer and its Subsidiaries have taken commercially
reasonable actions in accordance with current industry practice to protect, preserve and maintain the confidentiality and security
of all Issuer Intellectual Property Rights, the value of which to Issuer or any of its Subsidiaries is contingent upon maintaining
the confidentiality thereof (including any Trade Secrets owned, used or held for use by Issuer or any of its Subsidiaries), and
no such Intellectual Property Rights have been disclosed other than, on a need-to-know basis, to employees, representatives and
agents of Issuer or any of its Subsidiaries, all of whom are bound by written confidentiality agreements that protect such Intellectual
Property Rights. Issuer and its Subsidiaries have used commercially reasonable efforts to prevent disclosure of such Intellectual
Property Rights to any Person who has not executed such written confidentiality agreement and, to the Knowledge of Issuer, there
has been no disclosure of any such Intellectual Property to any employee or other Person who has not executed a binding and enforceable
confidentiality agreement. True, correct and complete copies of the forms of agreements referred to in the foregoing clause have
been made available to Purchaser prior to the date hereof, and to the Knowledge of Issuer, no breach of any such agreement by
the other party thereto has occurred or been threatened.

 

(n)
Any Issuer Intellectual Property Rights that
are Trade Secrets have been accurately documented in a manner such that someone reasonably skilled in DNA-based or immuno- therapeutics
or electroporation drug delivery devices, or the manufacturing or engineering of such therapeutics or devices, could review such
documentation and understand how to practice or use such Trade Secrets to develop and manufacture the Products or otherwise Exploit
the Products.

 

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(o)
To the extent that any Issuer Intellectual Property
Right has been developed or created by a Third Party (including any current or former officer, director, employee or Independent
Contractor of Issuer or any of its Subsidiaries) for Issuer or any of its Subsidiaries, Issuer or one of its Subsidiaries, as
the case may be, has a written agreement with such Third Party with respect thereto pursuant to which such Person has agreed to
hold all of Issuer Intellectual Property Rights in confidence, and Issuer or one of its Subsidiaries thereby either (i) has obtained
ownership of and is the exclusive owner of, or (ii) has obtained a valid and unrestricted right to exploit, sufficient for the
conduct of its business as currently conducted or proposed to be conducted in Issuer SEC Documents, such Intellectual Property
Right. True, correct and complete copies of the forms of agreements referred to in the foregoing clauses (i) and (ii)
have been made available to Purchaser prior to the date hereof. To the Knowledge of Issuer, no breach of any such agreement
by the other party thereto has occurred or been threatened. No current or former employee of, or Independent Contractor to, Issuer
or any of its Subsidiaries owns any right, title, or interest in or to any Issuer Intellectual Property Right relating to any
Product that was created or developed by such employee or Independent Contractor during his or her employment or other engagement
with Issuer or such Subsidiary.

 

3.16
IT Systems; Privacy and Data Security.

 

(a)
To the Knowledge of Issuer, Issuer and each Issuer
Subsidiary complies and, during the three year period ending on the date hereof, has complied in all material respects with all
Privacy and Information Security Requirements. Neither Issuer nor any Issuer Subsidiary has received notice of any complaint,
investigation, or other inquiry from any Governmental Authority with jurisdiction within the three year period ending on the date
hereof regarding any actual or possible violation of, or failure to comply with, any Privacy and Information Security Requirement
by Issuer or any Issuer Subsidiary. There is not currently pending and there has not been within the three year period ending
on the date hereof any Action against Issuer or any Issuer Subsidiary alleging any violation of, or failure to comply with, any
Privacy and Information Security Requirement.

 

(b)
Issuer and each Issuer Subsidiary currently provides,
and within the three year period ending on the date hereof Issuer and each Issuer Subsidiary has provided, notice designed to
be reasonable and accurate of Issuer and Issuer Subsidiaries’ privacy practices in accordance with Applicable Law. Issuer
has provided to Purchaser copies of all of the current privacy notices on its websites, and any other privacy notices, disclosures
or public representations with respect to Issuer and Issuer Subsidiaries (collectively, “Privacy Notices”)
in effect within the three year period ending on the date hereof.

 

(c)
To the Knowledge of Issuer, no Person has, or
is reasonably suspected to have, gained unauthorized access to or caused a security breach leading to the loss of confidentiality,
integrity, or availability of IT Assets or Personal Information in a manner that is unlawful or violates contractual agreements.

 

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(d)
Issuer and each Issuer Subsidiary has made reasonable
efforts to provide all requisite notices and obtain all required Consents (it being understood that such notices and Consents
were designed to satisfy the Applicable Law in force at the time of their drafting), and to satisfy all other requirements (including,
as applicable, notification to privacy or data protection authorities), necessary for Processing by Issuer and each Issuer Subsidiary
of Personal Information in connection with the conduct of the business of Issuer as currently conducted and, subject to Issuer’s
Privacy Notices, the business of Issuer contemplated to be conducted in Issuer SEC Documents and in connection with the consummation
of the transactions contemplated hereby. To the Knowledge of Issuer, the transactions to be consummated hereunder as of the Closing
will not cause or constitute a material breach or violation of any Applicable Law or any Privacy Notice.

 

(e)
Issuer and each Issuer Subsidiary has implemented
and maintained organizational, administrative, physical and technical safeguards reasonably designed (but in no event less than
commercially reasonable practices in the industry in which Issuer and each Issuer Subsidiary operates) to (i) secure IT Assets,
and any Personal Information and other confidential information thereon, from unauthorized access, acquisition, interruption,
alteration, modification, use or other processing, or any other compromise of confidentiality, integrity, or security; (ii) defend
IT Assets against denial of service attacks, distributed denial of service attacks, hacking attempts and like attacks and activities
by any other Person; and (iii) ensure the continued, uninterrupted and error-free operation of IT Assets, including employing
commercially reasonable security, maintenance, disaster recovery, redundancy, backup, archiving and virus or malicious device
scanning/protection measures. Issuer has provided to Purchaser true, correct and complete copies of all such written procedures
currently in effect. Each employee of Issuer or any Issuer Subsidiary has received training regarding information security that
is relevant to each such employee’s role and responsibility within Issuer or Issuer Subsidiary and each such employee’s
access to Personal Information. The IT Assets are designed to be adequate for, and to operate and perform in all material respects
as required in connection with, the operation of the business of Issuer.

 

(f)
To the Knowledge of Issuer, Issuer and each Issuer
Subsidiary has contractually obligated all Data Processors to contractual terms relating to the collection, use, and storage of
IT Assets, or Personal Information or other confidential information thereon.

 

(g)
To the Knowledge of Issuer, the IT Assets have had no material errors or defects that have not been reasonably mitigated and contain
no code designed to disrupt, disable, harm, distort or otherwise impede in any manner the legitimate operation of such IT Assets
(including what are sometimes referred to as “viruses”, “worms”, “time bombs” or “back
doors”) that has not been removed or reasonably mitigated. Neither Issuer nor any Issuer Subsidiary has experienced any
material disruption to, or material interruption in, the conduct of the business of Issuer attributable to a defect, bug, breakdown,
unauthorized access, introduction of a virus or other malicious programming, or other failure or deficiency on the part of any
IT Assets.

 

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(h)
Neither Issuer nor any Issuer Subsidiary, is
a covered entity, as that term is defined in HIPAA.

 

(i)
Neither Issuer nor any Issuer Subsidiary is required
to enter into a business associate agreement under 45 C.F.R. § 164.502(e)(2).

 

(j)
To Issuer’s Knowledge, there has been no
security incident or breach, as those terms are defined in HIPAA, including any loss or unauthorized access, use or disclosure,
of protected health information (that is subject to, and as defined by, HIPAA) held by Issuer or any Issuer Subsidiary, that would
constitute a breach for which notification to individuals, the media, or the U.S. Department of Health and Human Services is required
under 45 C.F.R. Part 164, Subpart D.

 

(k)
There are no pending Actions arising from or
relating to Issuer’s or Issuer Subsidiaries’ compliance with HIPAA; nor, to Issuer’s Knowledge, are there any
facts or circumstances that would reasonably be expected to form the basis for any such Action.

 

3.17
Taxes.

 

(a)
All income Tax Returns and material other Tax
Returns that are required to be filed by or on behalf of Issuer or any of its Subsidiaries have been duly and timely filed with
the appropriate Taxing Authority (after giving effect to any valid extensions of time in which to make such filings). All Tax
Returns filed with respect to Issuer or any of its Subsidiaries are true, complete, and correct in all material respects. All
Taxes payable by or on behalf of Issuer or any of its Subsidiaries have been fully and timely paid (whether or not shown on any
Tax Return), and, where payment is not yet due, Issuer has established in accordance with GAAP an adequate accrual for all material
Taxes through the end of the last period for which Issuer and its Subsidiaries ordinarily record items on their respective books.

 

(b)
Issuer and each of its Subsidiaries has complied
with all Applicable Laws relating to the payment and withholding of Taxes and has duly and timely reported, withheld and paid
over to the appropriate Taxing Authority all amounts required to be reported, withheld or paid over with respect to any payment
to any employee, independent contractor, creditor, shareholder, vendor or other Person.

 

(c)
All income and franchise Tax Returns of Issuer
and its Subsidiaries through the Tax year ended July 31, 2015 have been examined and closed by the relevant Taxing Authority or
are Tax Returns with respect to which the applicable period of assessment under Applicable Laws, after giving effect to extensions
or waivers, has expired.

 

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(d)
There is no dispute, claim, or Action now pending,
or threatened in writing, against or with respect to Issuer or its Subsidiaries in respect of any material amount of Tax or material
Tax Return.

 

(e)
No deficiency of Taxes in respect of Issuer or
any of its Subsidiaries has been asserted in writing by any Taxing Authority that has not otherwise been resolved.

 

(f)
There is not in force any extension or waiver
of the statute of limitations with respect to the time to assess Taxes of Issuer or any of its Subsidiaries.

 

(g)
Within the past three years, neither Issuer nor
any of its Subsidiaries distributed stock of another Person, or had its stock distributed by another Person, in a transaction
intended to be governed in whole or in part by Section 355 or Section 361 of the Code or any corresponding provision of state,
local or foreign Applicable Laws.

 

(h)
Neither Issuer nor any of its Subsidiaries has
entered into, or been party to, any “reportable transaction” within the meaning of Section 6707A(c)(1) of the Code
or any corresponding provision of state, local or foreign Applicable Laws.

 

(i)
Neither Issuer nor any of its Subsidiaries has
received or applied for a private letter ruling from the IRS (or any comparable ruling from any other Taxing Authority) or entered
into a closing agreement pursuant to Section 7121 of the Code (or any similar provision of state, local or foreign Applicable
Laws).

 

(j)
Neither Issuer nor any of its Subsidiaries is
a party to any joint venture, partnership or other arrangement that is treated as a partnership for U.S. federal, state, local
or foreign income tax purposes.

 

(k)
Neither Issuer nor any of its Subsidiaries is
or has ever been a U.S. real property holding corporation within the meaning of Section 897(c)(2) of the Code.

 

(l)
Issuer and each of its Subsidiaries have duly
kept and properly maintained all material records for all taxable years still open for audit that such Person is required to keep
for Tax purposes under any Applicable Laws, and such records have been made available for inspection at the premises of Issuer
or one of its Subsidiaries, as applicable. Issuer and each of its Subsidiaries are in compliance with all applicable transfer
pricing laws and regulations (including Section 482 of the Code and the U.S. Treasury Regulations thereunder, and any similar
provision of state, local, or foreign Tax Law), including maintenance of contemporaneous documentation. All intercompany agreements
have been and are on arm’s length terms.

 

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(m)
Neither Issuer nor any of its Subsidiaries (i)
is or has been a member of an “affiliated group” within the meaning of Section 1504 of the Code or of any other similar
affiliated, consolidated, combined or unitary group under state, local or foreign Applicable Laws; other than such a group all
of the members of which are Issuer or one or more Subsidiaries; (ii) has any Liability for Taxes of any Person (other than Issuer
or any of its Subsidiaries) under U.S. Treasury Regulations Section 1.1502-6 (or any similar provision of state, local or foreign
Applicable Laws) or as transferee or successor; or (iii) has any Liability or potential Liability to another Person under any
Tax Sharing Agreement (other than in the Ordinary Course of Business where such provision is ancillary to the agreement).

 

(n)
Section 3.17(n) of the Issuer Disclosure Schedule
contains a true, correct and complete list of all jurisdictions (foreign and domestic) in which Issuer and each of its Subsidiaries
currently files Tax Returns. No claim has been made in writing by any Taxing Authority in a jurisdiction in which Issuer or its
Subsidiaries do not file Tax Returns to the effect that Issuer or any of its Subsidiaries is or may be subject to taxation by,
or required to file any Tax Return in, such jurisdiction.

 

(o)
No Subsidiary of Issuer is or has ever been a
“passive foreign investment company” within the meaning of Section 1297(a) of the Code with respect to any shareholder
of such Subsidiary or a foreign corporation described in Section 7874(b) of the Code. Neither Issuer nor any of its Subsidiaries
has made an election under Section 965(h) of the Code to pay the net tax Liability under Section 965 in installments.

 

3.18
Employee Benefit Plans; Labor Matters.

 

(a)
Section 3.18(a) of the Issuer Disclosure Schedule
lists each Employee Plan and separately indicates the sponsor(s) of each Employee Plan. For each Employee Plan, Issuer has furnished
to Purchaser a copy of such plan (or a description, if such plan is not written) and all amendments thereto and written interpretations
thereof, including a copy of (if applicable) (i) Material Contracts related to such Employee Plan including trust agreements,
insurance Contracts, and administrative service agreements and (ii) each summary plan description and summary of material modifications.
No Employee Plan is subject to any laws other than those of the U.S. or any state, country or municipality in the U.S. No Employee
Plan is sponsored or maintained by a Third Party provider such as a professional employer organization.

 

(b)
Issuer has made available to Purchaser a list
of each (i) Employment Agreement (other than at-will offer letters with no severance or change in control benefits or guaranteed
term or payments), (ii) Consulting Agreement pursuant to which an Independent Contractor is entitled to receive (or is reasonably
expected to be entitled to receive) more than $50,000 during any 12-month period and (iii) restrictive covenant Contract and indemnification
Contract entered into with any Employees or Independent Contractor, in each case as in effect as of the date of this Agreement.
A copy of each such Employment Agreement, Consulting Agreement or other Contract, as the case may be, together with any amendments
thereto, has previously been made available to Purchaser. A copy of each agreement or Contract between any professional employer
organization or other staffing organization, on the one hand, and Issuer or any of its Subsidiaries, on the other hand, has been
made available to Purchaser. Each current and former Employee and Independent Contractor has executed a nondisclosure and assignment-of-rights
agreement for the benefit of Issuer, vesting all rights in work product created by such Employee or Independent Contractor during
such individual’s affiliation with Issuer, and a copy of each such agreement has previously been made available to Purchaser.
To Issuer’s Knowledge, no current Employee or Independent Contractor is a party to, or is otherwise bound in any way by,
any Contract that in any way may restrict the performance of such Employee’s or Independent Contractor’s duties to
Issuer or its Subsidiaries.

 

    	 	21	 

    	 

    

 

(c)
Each Service
Provider treated or classified by Issuer or any of its Subsidiaries as a non-employee has been properly treated or classified
as such for all purposes, and no such individual shall have a valid claim against Issuer or any of its Subsidiaries for eligibility
to participate in or benefits under any Employee Plan if such individual is later reclassified as (or determined to be) an employee
of Issuer or any of its Subsidiaries. All Employees are employed in the U.S., and all of the terms and conditions of their employment
are governed exclusively by the Applicable Law of the U.S. and not the Applicable Law of any other jurisdiction. Issuer and its
Subsidiaries have completed a Form I-9 (Employment Eligibility Verification) for each Employee, and each such Form I-9 has since
been updated as required by Applicable Law and, to Issuer’s Knowledge, is true, correct and complete in all material respects.

 

(d)
Neither Issuer nor any of its ERISA Affiliates
sponsors, maintains, administers or contributes to (or has any obligation to contribute to), or has in the past sponsored, maintained,
administered or contributed to (or had any obligation to contribute to), or has any Liability with respect to, (i) a “defined
benefit plan” (as defined in Section 3(35) of ERISA or Section 414(j) of the Code); (ii) a “multiemployer plan”
(as defined in Sections 4001(a)(3) or 3(37)(A) of ERISA); (iii) a plan subject to Section 302 or Title IV of ERISA or Section
412 or 4971 of the Code; (iv) a “multiple employer welfare arrangement” (as defined in Section 3(40) of ERISA); (v)
a “multiple employer plan” (as defined in 29 C.F.R. § 4001.2) or a plan subject to Section 413(c) of the Code;
or (vi) any plan, program or arrangement that provides for post-retirement or other post-employment health or other welfare benefits
(other than health care continuation coverage as required by Section 4980B of the Code or similar Applicable Law for which the
covered individual pays the full cost of coverage) or that provides health or other welfare benefits (except for flexible spending
accounts) on a less-than-fully insured basis. No Employee Plan is or has ever been, or currently funds or has ever been funded
by, a “voluntary employees’ beneficiary association” within the meaning of Section 501(c)(9) of the Code or
other funding arrangement for the provision of welfare benefits.

 

(e)
Each Employee Plan that is intended to be qualified
under Section 401(a) of the Code is so qualified and received a favorable determination letter from the IRS to the effect that
such Employee Plan satisfies the requirements of Section 401(a) of the Code (or, if such plan uses an IRS pre-approved plan document,
such plan document has received a favorable opinion from the IRS that the form meets the tax qualification requirements and Issuer
is entitled to rely on such favorable opinion), and there are no facts or circumstances that could reasonably be expected to cause
the loss of such qualification.

 

    	 	22	 

    	 

    

 

(f)
Each Employee Plan has been maintained, funded
and administered in compliance with its terms and with all Applicable Law, including ERISA and the Code. No Action (other than
routine claims for benefits) is pending against or involves or, to Issuer’s Knowledge, is threatened against or threatens
to involve, any Employee Plan or any fiduciary thereof before any arbitrator or any Governmental Authority, including the IRS
and the U.S. Department of Labor, and, to Issuer’s Knowledge, there are no facts that reasonably would be expected to give
rise to any such Action.

 

(g)
All assets of any Employee Plan consist of cash
or actively traded securities, and no asset of any Employee Plan consists of employer securities (within the meaning of Section
407(d)(1) of ERISA).

 

(h)
All returns, reports and disclosure statements
required to be made under Applicable Law with respect to all Employee Plans have been timely filed or delivered. Neither Issuer
nor any of its ERISA Affiliates nor any of their directors, officers, employees or agents, nor any fiduciary, trustee or administrator
of any Employee Plan or trust created under any Employee Plan, has engaged in or been a party to any non-exempt “prohibited
transaction” as defined in Section 4975 of the Code and Section 406 of ERISA, and to Issuer’s Knowledge, no non-exempt
“prohibited transaction,” within the meaning of section 406 of ERISA or section 4975 of the Code, has occurred with
respect to any Employee Plan. Neither Issuer nor any Subsidiary of Issuer, has or could reasonably be expected to have any Liability
for Taxes under Sections 4975 through 4980 or Sections 4980B through 4980I of the Code or other excise Taxes or penalties with
respect to any Employee Plan. No fiduciary (within the meaning of Section 3(21) of ERISA, has breached his, her, or its fiduciary
duty with respect to an Employee Plan or otherwise has any Liability in connection with any acts taken (or failed to be taken)
with respect to the administration or investment of the assets of any Employee Plan that could reasonably result in material Liability
to Issuer or any Employee Plan.

 

(i)
There has been no amendment to, written interpretation
of or announcement (whether or not written) by Issuer or any of its Affiliates relating to, or change in employee participation
or coverage under, any Employee Plan that would materially increase the expense of maintaining such plan above the level of expense
incurred in respect thereof for the fiscal year ended on the Issuer Balance Sheet Date, and none of Issuer or any of its Affiliates
has a formal plan, commitment or proposal, whether legally binding or not, or has made a commitment to employees to make such
an amendment, interpretation, announcement, or change or to create any additional employee benefit plan, program, or arrangement.
Issuer may terminate or amend any Employee Plan, at any time in its sole discretion, without incurring any Liability other than
with respect to benefits that have already accrued under a retirement plan.

 

    	 	23	 

    	 

    

 

(j)
For each Employee Plan, all contributions, premiums
and payments that have become due through the date hereof have been made within the time periods prescribed by the terms of such
plan and Applicable Law, and all contributions, premiums and payments for any period ending on or before the Closing Date that
have not yet become due are properly accrued to the extent required to be accrued under applicable accounting principles and have
been properly reflected on the Issuer Balance Sheet or disclosed in the notes thereto.

 

(k)
Except as set forth on Section 3.18(k) of the
Issuer Disclosure Schedule, neither the execution of this Agreement nor the consummation of the transactions contemplated hereby
will (either alone or together with any other event) (i) entitle any current or former Service Provider to any payment or benefit
or acceleration of any payment or benefit, including any bonus, retention, severance, retirement or job security payment or benefit,
(ii) accelerate the time of payment or vesting or trigger any payment or funding (through a grantor trust or otherwise) of compensation
or benefits under, or increase the amount payable or trigger any other obligation under, any Employee Plan or (iii) limit or restrict
the right of Issuer or any of its Subsidiaries or, after the Closing, Purchaser or any of its Affiliates, to merge, amend or terminate
any Employee Plan.

 

(l)
No Employee Plan or other compensation or benefit
arrangement, individually or collectively, provides for the payment of any amount to a Service Provider (including any payment
resulting from the execution of this Agreement or consummation of the transactions contemplated hereby (either alone or together
with any other event)) that would not be deductible under Section 162(m) or Section 280G of the Code. Neither Issuer nor any of
its Subsidiaries has any obligation to gross-up, indemnify or otherwise reimburse any current or former Service Provider for any
Tax incurred by such Service Provider, including under Section 409A or Section 4999 of the Code.

 

(m)
Neither Issuer nor any of its Subsidiaries is
currently negotiating in connection with entering into, or has, at any time, been a party to or had any obligations under, any
Collective Bargaining Agreement. To Issuer’s Knowledge, there is no, and there never has been any, organizational campaign,
petition or other unionization activity pending or threatened, seeking recognition of a collective bargaining unit relating to
any Employee.

 

(n)
Issuer and its Subsidiaries are, and have been
for the three year period ending on the date hereof, in compliance in all material respects with all Applicable Laws relating
to labor and employment and the engagement of non-employee service providers, including (i) all contractual commitments, (ii)
all Applicable Laws relating to labor management relations, wages, hours, overtime, employee classification, equal opportunity,
discrimination, sexual harassment, disability accommodation, protected leave, civil rights, affirmative action, work authorization,
immigration, safety and health, information privacy and security, wage payment, the payment and withholding of Taxes and workers
compensation and (iii) the Worker Adjustment and Retraining Notification Act and any comparable foreign, state or local law. Issuer
and its Subsidiaries have, or will have no later than the Closing Date, paid all outstanding compensation of Employees and all
fees or other compensation of the Independent Contractors due to be paid through the Closing Date, except that in the event the
Closing Date occurs in the middle of a pay period, any outstanding compensation of Employees and all fees or other compensation
of the Independent Contractors due to be paid at the end of such pay period will be paid in due course as of the end of such pay
period.

 

    	 	24	 

    	 

    

 

(o)
Each Employee Plan that is a “nonqualified
deferred compensation plan” within the meaning of Section 409A of the Code has a plan document that satisfies the requirements
of Section 409A of the Code and has been operated in material compliance with the terms of such plan document and the requirements
of Section 409A of the Code, in each case such that no Tax is or has been due or payable under Section 409A of the Code with respect
to amounts deferred or payable under such Employee Plan.

 

(p)
To Issuer’s Knowledge, (a) no allegations
of sexual harassment have been made against any Employee, and (b) neither Issuer nor any of its Affiliates have entered into any
settlement agreements related to allegations of sexual harassment or misconduct by an Employee.

 

3.19
Material Contracts.

 

(a)
Except as set forth in Section 3.19 of the Issuer
Disclosure Schedule or filed in Issuer’s periodic reports filed with the SEC and publicly available at least two Business
Days prior to the date hereof, neither Issuer nor any of its Subsidiaries is a party to or bound by:

 

(i)
any Contract (A) relating to the employment of,
or the performance of services by, any director, employee or consultant, (B) the terms of which obligate or may in the future
obligate Issuer or any of its Subsidiaries to make any severance, termination or similar payment to any current or former employee,
(C) pursuant to which Issuer or any of its Subsidiaries may be obligated to make any bonus or similar payment to any current or
former employee or director or (D) that is a Collective Bargaining Agreement;

 

(ii)
any Contract relating to any partnership, joint
venture, strategic alliance, collaboration, material research and development project or other similar arrangement;

 

(iii)
any Contract (excluding licenses for commercial
off the shelf computer software that are generally available on nondiscriminatory pricing terms) pursuant to which Issuer or any
of its Subsidiaries (A) obtains the right to use, or a covenant not to be sued under, any Intellectual Property Right or (B) grants
the right to use, or a covenant not to be sued under, any Intellectual Property Right;

 

    	 	25	 

    	 

    

 

(iv)
any Contract with any Governmental Authority;

 

(v)
any Contract with sole-source or single-source
suppliers of material tangible products or services or pursuant to which either Issuer or any of its Subsidiaries has agreed to
purchase a minimum quantity of goods relating to any product or product candidate or has agreed to purchase goods relating to
any product or product candidate exclusively from a certain party;

 

(vi)
any Contract (A) that relates to the research,
development, distribution, marketing, supply, license, collaboration, co-promotion or manufacturing of any Product or (B) that
otherwise provides for the purchase or sale of products or services by Issuer or any of its Subsidiaries in excess of $100,000;

 

(vii)
any stockholders, investors rights, registration
rights, tax receivables or similar or related Contract or arrangement;

 

(viii)
any Contract containing “most favored nation”
or similar preferential pricing provisions, any exclusive dealing arrangement or any arrangement that grants any right of first
refusal, first offer, first negotiation or similar preferential right;

 

(ix)
any Contract (A) that obligates Issuer (together
with its Subsidiaries) to make aggregate payments in excess of (x) $100,000 in the current or any future calendar year or (y)
$250,000 in the aggregate, (B) related to an acquisition or divestiture that contains continuing representations, covenants, indemnities
or other obligations (including “earn out” or other contingent payment obligations) or (C) pursuant to which Issuer
or any of its Subsidiaries has continuing obligations or interests involving the payment of royalties or other amounts calculated
based upon the revenues or income of Issuer or any of its Subsidiaries or any other material contingent payment obligations, in
each case that is not terminable by Issuer or its Subsidiaries without penalty without more than 60 days’ notice;

 

(x)
any Lease, except as identified on Section 3.14(b)
of the Issuer Disclosure Schedule;

 

(xi)
any Contract that provides for indemnification
of any current or former officer, director or employee;

 

(xii)
any Contract for the disposition of all or any
significant portion of the assets or business of Issuer or any of its Subsidiaries or for the acquisition, directly or indirectly,
of a material portion of the assets or business of any other Person (whether by merger, sale of stock or assets or otherwise);

 

(xiii)
any Contract relating to indebtedness for borrowed
money, any guarantees thereof or the granting of Liens over the property or assets of Issuer or any of its Subsidiaries;

 

    	 	26	 

    	 

    

 

(xiv)
any Contract relating to any loan or other extension
of credit made by Issuer or any of its Subsidiaries;

 

(xv)
any Contract containing any provision or covenant
limiting in any material respect the ability of Issuer or any of its Subsidiaries to (A) sell any products or services of or to
any other Person or in any geographic region, (B) engage in any line of business or (C) compete with or to obtain products or
services from any Person, or limiting the ability of any Person to provide products or services to Issuer or any of its Subsidiaries;

 

(xvi)
any Contract requiring Issuer, or any successor
thereto or acquirer thereof, to make any payment whether severance or otherwise to another Person related to, in connection with,
or as a result of a change of control of Issuer (a “Change of Control Payment”) or that gives a Third Party
a right to receive or elect to receive a Change of Control Payment; or

 

(xvii)
any “material contract” (as such
term is defined in Item 601(b)(10) of Regulation S-K) or any other Contract that is material to Issuer and its Subsidiaries, taken
as a whole (all Contracts of the type described in this Section 3.19(a) being referred to herein as “Material
Contracts”).

 

(b)
Issuer has made available to Purchaser prior
to the date hereof a true, correct and complete copy of each Material Contract. (i) Each of the Material Contracts is valid, binding
and in full force and effect and (ii) neither Issuer nor any of its Subsidiaries, nor, to Issuer’s Knowledge, any other
party to a Material Contract, has breached or violated in any material respect any provision of, or taken or failed to take any
act which, with or without notice, lapse of time, or both, would constitute a breach or a default under the provisions of such
Material Contract, and neither Issuer nor any of its Subsidiaries has received notice that it has breached, violated or defaulted
in any material respect under any Material Contract.

 

3.20
Finders’ Fees.

 

Except
for Torreya Partners LLC and The Sage Group, there are no investment bankers, brokers, finders or other intermediaries that have
been retained by or are authorized to act on behalf of Issuer or any of its Subsidiaries who might be entitled to any broker’s,
finder’s or similar fee or commission from Issuer or any of its Affiliates in connection with any of the transactions contemplated
by this Agreement. Issuer has made available to Purchaser prior to the date hereof a true, correct and complete copy of all agreements
pursuant to which Torreya Partners LLC and The Sage Group are entitled to any fees, expenses or indemnification in connection
with any of the transactions contemplated by this Agreement.

 

    	 	27	 

    	 

    

 

3.21
Opinion of Financial Advisor.

 

Issuer
has received the opinion of Torreya Partners LLC (the “Financial Advisor”),
to the effect that, as of the date of this Agreement, the Purchase Price is fair to Issuer from a financial point of view, and
such opinion has not been withdrawn, revoked or modified. Issuer will make available a true, correct and complete copy of the
written opinion of Torreya Partners LLC to Purchaser solely for informational purposes on the date hereof following execution
of this Agreement.

 

3.22
Antitakeover Statutes.

 

No
“fair price”, “moratorium”, “control share acquisition”, “business combination”
or other similar antitakeover statute or regulation enacted under U.S. state or federal laws is applicable to Issuer, the Shares,
this Agreement or the transactions contemplated by or relating to any of the foregoing. The action of the Board in approving this
Agreement and transactions contemplated by or relating to any of the foregoing is sufficient to render inapplicable thereto any
such antitakeover statute or regulation and to result in Purchaser not being considered an “interested stockholder”
for purposes of NRS 78.3787. As of the date of this Agreement, neither Issuer nor any of its Subsidiaries is a party to any stockholder
rights agreement, rights plan, “poison pill” or other similar agreement or plan, except as set forth on Section 3.22
of the Issuer Disclosure Schedules.

 

3.23
Regulatory Matters.

 

(a)
All activities of Issuer and its Subsidiaries
that are subject to the jurisdiction of the FDA or any comparable Governmental Authority, or subject to Health Care Laws, have
been conducted in compliance in all material respects with all applicable requirements under all such Health Care Laws.

 

(b)
Neither Issuer, any of its Subsidiaries nor,
to Issuer’s Knowledge, any Third Party, has received notice or other communication alleging a possible material violation
by Issuer or its Subsidiaries of any Health Care Law.

 

(c)
There are no Actions pending or, to Issuer’s
Knowledge, threatened, with respect to an actual or alleged violation by Issuer, any of its Subsidiaries, or to Issuer’s
Knowledge, any Third Party, of any Health Care Law applicable to Issuer or any of its Subsidiaries.

 

(d)
To Issuer’s Knowledge, there is no information,
condition, event, occurrence or circumstance that would reasonably be expected to adversely affect, in any material respect, the
acceptance, obtaining or maintaining of any Product Registration for any of the Products.

 

(e)
Issuer owns all Product Registrations with respect
to the Products, and each of such Product Registrations is in full force and effect. All of the Products are being, and at all
times have been, Exploited in compliance with the requirements for the applicable Product Registrations.

 

    	 	28	 

    	 

    

 

(f)
Issuer has made available to Purchaser true,
correct and complete copies of (A) all material filings with the FDA or equivalent Governmental Authority relating to any of the
Products, (B) all material correspondence and communications with the FDA or equivalent Governmental Authority relating to any
of the Products and (C) all material data, information, results, analyses, trial protocols, publications, and reports relating
to the safety and efficacy of the Products.

 

(g)
Issuer has made available to Purchaser its current
plan for development of all Products, including Issuer’s current plan for obtaining Product Registrations necessary to ultimately
commercialize the Products.

 

(h)
All applications, notifications, submissions,
information, claims, reports and statistics and other data, utilized as the basis for, or submitted in connection with, any Product
Registration for any Product, when submitted to the FDA or such other applicable Governmental Authority were true, correct and
complete in all material respects as of the date of submission and any necessary or required updates, changes, corrections or
modification to such applications, submissions, information and data have been submitted to the FDA or such other applicable Governmental
Authority. None of the filings made by or on behalf of Issuer or any of its Subsidiaries with the FDA or an equivalent Governmental
Authority relating to any of the Products contained any untrue statement of a material fact or fraudulent statement or omitted
any material fact necessary to make the statements therein not misleading.

 

(i)
Neither Issuer, any of its Subsidiaries or any
officer, director, employee or, to Issuer’s Knowledge, agent of Issuer or any of its Subsidiaries, or any Third Party, (A)
has committed any act, or made a statement, or failed to make a statement, that could reasonably be expected to provide a basis
for the FDA or any other Governmental Authority to invoke FDA’s policy respecting “Fraud, Untrue Statements of Material
Facts, Bribery, and Illegal Gratuities” set forth in 56 Fed. Reg. 46191 (September 10, 1991) or any similar policy with
respect to Issuer, any of its Subsidiaries or any of their respective officers, directors or employees; (B) has been charged with
or convicted of any criminal offense relating to the delivery of an item or service under Medicare, Medicaid, TRICARE or any similar
government health care program (collectively, “Federal Health Care Programs”); (C) has been subject to, or
convicted of any crime or engaged in any conduct that would reasonably be expected to result in, debarment, exclusion, or suspension
from participation in any Federal Health Care Program, or otherwise under Section 306 of the FDCA or any similar Applicable Law,
and no Action is pending or, to Issuer’s Knowledge, threatened, relating to such debarment or conviction of Issuer, any
of its Subsidiaries, or any such other Person; (D) has had a civil monetary penalty assessed against it, him or her under Section
1128A of the Social Security Act, codified at Title 42, Chapter 7, of the U.S. Code; or (E) to Issuer’s Knowledge, is the
target or subject of any current or potential investigation relating to any Federal Health Care Program-related offense.

 

    	 	29	 

    	 

    

 

(j)
Except as provided in Section 3.23(j) of the
Issuer Disclosure Schedule, neither Issuer nor any of its Subsidiaries nor, to Issuer’s Knowledge, any Third Party, has
received, and there is no threat of, any warning letter or untitled letter, report of inspectional observations, including FDA
Form 483, establishment inspection reports, notices of violation, enforcement notices or other documents from any Governmental
Authority or any Review Board alleging a lack of material compliance by Issuer, any of its Subsidiaries, or any such Third Party
with any Applicable Law or Product Registration in connection with the Products.

 

(k)
No Product has been recalled, withdrawn, suspended
or discontinued (whether voluntarily or otherwise) and no proceedings (whether completed or pending) seeking the recall, withdrawal,
suspension, discontinuation, or seizure of any such Product are pending, or to Issuer’s Knowledge, threatened, against Issuer
or any of its Subsidiaries, nor have any such proceedings been pending at any time.

 

(l)
Neither Issuer nor any of its Subsidiaries nor,
to Issuer’s Knowledge, any Third Party, has received any notice or other correspondence that a Governmental Authority with
jurisdiction over any Product has commenced or, to Issuer’s Knowledge, threatened to commence proceedings to (i) withdraw
or otherwise suspend, revoke or materially amend any Product Registration or (ii) enjoin the Exploitation of any Product, and,
to Issuer’s Knowledge, no event has occurred that would reasonably be expected to give any Governmental Authority any right
to take any such action. Neither Issuer nor any of its Subsidiaries has been requested by any Governmental Authority to voluntarily
withdraw a Product Registration or to discontinue Exploiting a Product.

 

(m)
All preclinical and clinical studies conducted
or sponsored by or on behalf of Issuer or any of its Subsidiaries are being and have been conducted in compliance in all material
respects with the applicable protocols, procedures and controls, and applicable Health Care Laws. Except as set forth in Section
3.23(m) of the Issuer Disclosure Schedule, no clinical trial conducted or sponsored by or on behalf of Issuer has been terminated
or suspended by the FDA or any other applicable Governmental Authority or any Review Board, and neither the FDA nor any other
applicable Governmental Authority has commenced or, to Issuer’s Knowledge, threatened to initiate, any action to place a
clinical hold order on, or otherwise terminate, delay, suspend, materially modify, or materially restrict, any previous, proposed
or ongoing clinical trial conducted or proposed to be conducted by or on behalf of Issuer or any of its Subsidiaries. Neither
Issuer nor any of its Subsidiaries has received any notice or other communication from FDA or any other applicable Governmental
Authority or any Review Board with respect to any previous or ongoing pre-clinical or clinical studies requiring the termination,
suspension, or material modification of such studies. With respect to any clinical trial conducted by or on behalf of Issuer or
any of its Subsidiaries with respect to any Product in connection with or as the basis for any submission to the FDA or other
comparable Governmental Authority of any regulatory approval or application therefor, (i) such clinical trials have been properly
registered to the extent required under all applicable Health Care Laws, including on clinicaltrials.gov if required, and (ii)
the results of all such clinical trials have been disclosed to the extent required under all applicable Health Care Laws, in each
case including Section 402 of the PHSA and the implementing regulations codified in 42 CFR Part 11. To Issuer’s Knowledge,
none of the clinical investigators involved in the Exploitation of the Products by or on behalf of Issuer or its Subsidiaries
has been or is disqualified, restricted or otherwise sanctioned by FDA, the U.S. Department of Health and Human Services, or any
other applicable Governmental Authority.

 

    	 	30	 

    	 

    

 

(n)
There is not and has not been, and to Issuer’s
Knowledge there is no threat of, any return or defect of any Product proposed to be used during a clinical investigation, nor
has Issuer issued any replacements, safety alerts or any other notice to an investigator or Governmental Authority asserting potential
lack of safety or regulatory compliance with respect to any Product, and to Issuer’s Knowledge, there are no facts that
would be reasonably likely to result in the foregoing or a termination or suspension of developing and testing of any such Products.

 

(o)
Section 3.23(o) of the Issuer Disclosure Schedule
sets forth a true, correct and complete listing of all Products currently or previously Exploited by Issuer or any of its Subsidiaries.

 

(p)
Section 3.23(p) of the Issuer Disclosure Schedule
sets forth a true, correct and complete listing of all previous, current, and planned preclinical and clinical trials for any
Product by or on behalf of Issuer or any of its Subsidiaries.

 

(q)
Section 3.23(q) of the Issuer Disclosure Schedule
sets forth (i) each Third Party contract research organization or other provider of services engaged by Issuer or any of its Subsidiaries
to perform clinical studies and trials on any Product and (ii) each Third Party manufacturer of any Product and each supplier
that is under Contract with Issuer or any of its Subsidiaries to supply material components and products incorporated into any
Product. To Issuer’s Knowledge, each such Third Party (i) has complied and is complying in all material respects with all
applicable Health Care Laws, and any other Applicable Laws; and (ii) has all approvals necessary to conduct its business and perform
its obligations to Issuer or any of its Subsidiaries and all such approvals are in full force and effect.

 

3.24
Committee on Foreign Investment in the U.S. Pilot
Program.

 

Neither
Issuer nor any of its Subsidiaries produces, designs, tests, manufactures, fabricates, or develops one or more “critical
technologies,” as defined in Section 721 of the Defense Production Act of 1950 (50 U.S.C. § 4565).

 

    	 	31	 

    	 

    

 

3.25
Transactions with Affiliates.

 

No
(a) present or former officer or director of Issuer or any of its Subsidiaries, (b) beneficial owner (as defined in Rule 13d-3
under the 1934 Act) of 5% or more of any class of securities of Issuer or any of its Subsidiaries or (c) Affiliate or “associate”
or any member of the “immediate family” (as such terms are respectively defined in Rules 12b-2 and 16a-1 of the 1934
Act) of any Person described in the foregoing clauses (a) or (b) (each of the foregoing, a “Related
Party”) is a party to any actual or proposed transaction, agreement, commitment, arrangement, understanding or
Contract with Issuer or any of its Subsidiaries or has engaged in any transaction with Issuer or any of its Subsidiaries during
the three year period ending on the date hereof except as set forth on Section 3.25 of the Issuer Disclosure Schedules.

 

3.26
Insurance.

 

Issuer
has delivered or otherwise made available to Purchaser prior to the date hereof a copy of all material insurance policies and
all material self-insurance programs and arrangements relating to the business, assets and operations of Issuer and its Subsidiaries.
All such insurance policies are in full force and effect, all premiums thereon have been timely paid or, if not yet due, accrued.
There is no material claim pending under Issuer’s or any of its Subsidiaries’ insurance policies or fidelity bonds
as to which coverage has been questioned, denied or disputed by the underwriters of such policies or bonds. Issuer and its Subsidiaries
are in compliance in all material respects with the terms of such policies and bonds, and Issuer maintains the types and amounts
of insurance coverage that are reasonably customary for companies in similar lines of business as Issuer and its Subsidiaries.
Issuer has no Knowledge of any threatened termination of, or material premium increase with respect to, any of such policies or
bonds.

 

3.27
Shares.

 

The
Purchased Shares to be issued pursuant to this Agreement have been duly authorized for issuance and sale pursuant to this Agreement
and, when issued and delivered pursuant to this Agreement against payment of the consideration therefor specified herein, will
be validly issued, fully paid and non-assessable.

 

3.28
No Disqualification Events.

 

None
of Issuer, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of Issuer participating
in the offering hereunder, any beneficial owner of 20% or more of Issuer’s outstanding voting equity securities, calculated
on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the 1933 Act) connected with Issuer
in any capacity at the time of sale (each, an “Issuer Covered Person” and, together, “Issuer Covered
Persons”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii)
under the 1933 Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2)
or (d)(3). Issuer has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification
Event.

 

    	 	32	 

    	 

    

 

3.29
Listing and Maintenance Requirements.

 

The
Common Stock is registered pursuant to Section 12(b) of the 1934 Act, and the Issuer has taken no action designed to, or which
to its Knowledge is likely to have the effect of, terminating the registration of the Common Stock under the 1934 Act nor has
Issuer received any notification that the SEC is contemplating terminating such registration. Issuer has not, in the twelve (12)
months preceding the date hereof, received notice from Nasdaq to the effect that Issuer is not in compliance with the listing
or maintenance requirements of Nasdaq. Issuer is, and has no reason to believe that it will not in the foreseeable future continue
to be, in compliance with all such listing and maintenance requirements. The issuance and sale of the Purchased Shares hereunder
do not contravene the rules and regulations of Nasdaq. The Common Stock is currently eligible for electronic transfer through
the Depository Trust Company and Issuer is current in payment of the fees to the Depository Trust Company in connection with such
electronic transfer.

 

3.30
No Registration.

 

Assuming
the accuracy of Purchaser’s representations and warranties set forth herein, no registration under the 1933 Act is required
for the offer and sale of the Purchased Shares by Issuer to Purchaser as contemplated hereby.

 

3.31
Disclosure.

 

Except
for the issuance of the Purchased Shares and other transactions contemplated by this Agreement, to the Knowledge of Issuer, no
event, Liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist
with respect to Issuer or its business, properties, operations, assets or financial condition, that would be required to be disclosed
by Issuer under applicable securities Laws at the time this representation is made or deemed made that has not been publicly disclosed
at least four (4) Business Days prior to the date that this representation is made.

 

ARTICLE
4. REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

Purchaser
hereby represents and warrants to Issuer as follows and on the Closing Date (except for any representations and warranties that
are expressly stated to have been made as of a specified date prior to the date of this Agreement, which shall have been true
and correct as of such specified date) that:

 

4.1
Authority.

 

The
Purchaser is a corporation organized and existing under the Laws of the British Virgin Islands with full power and authority to
enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder
and thereunder. The execution and delivery of this Agreement and performance by Purchaser of the transactions contemplated by
such agreements have been duly authorized by all necessary corporate action on the part of Purchaser. This Agreement has been
duly executed by Purchaser, and when delivered by Purchaser in accordance with the terms hereof, will constitute the valid and
legally binding obligation of Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general
equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other Laws of general application affecting
enforcement of creditors’ rights generally, (ii) as limited by Laws relating to the availability of specific performance,
injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited
by Applicable Law.

 

    	 	33	 

    	 

    

 

4.2
Brokers and Finders.

 

Neither
Purchaser nor any related person of Purchaser has incurred any Liability to any party for any brokerage fees, agent’s commissions,
or finder’s fees in connection with the transactions contemplated by this Agreement.

 

4.3
Beneficial Ownership of Common Stock.

 

As
of the date hereof, neither Purchaser nor any Affiliate is the beneficial owner of (i) any Common Stock or (ii) any securities
or other instruments representing the right to acquire Common Stock.

 

4.4
Availability of Funds.

 

Purchaser
has, or will have at the Effective Time, sufficient cash, available lines of credit or other sources of immediately available
funds to enable it to consummate the Sale pursuant to the terms of this Agreement and to pay all related fees and expenses of
Purchaser pursuant to this Agreement.

 

4.5
Certain Transactions and Confidentiality.

 

Other
than consummating the transactions contemplated hereunder, Purchaser has not directly or indirectly, nor has any Person acting
on behalf of or pursuant to any understanding with Purchaser, executed any purchases or sales, including short sales and pledges,
of the securities of Issuer during the period commencing as of the time that Purchaser first received a term sheet (written or
oral) from Issuer or any other Person representing Issuer setting forth the material terms of the transactions contemplated hereunder
and ending immediately prior to the execution hereof. Other than to Purchaser’s representatives, including, without limitation,
its officers, directors, partners, legal and other advisors, agents and Affiliates bound by a duty of confidentiality to Purchaser,
Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the
existence and terms of this transaction).

 

    	 	34	 

    	 

    

 

4.6
Investment Risk; Disclosure of Information Acknowledgement
of Risk.

 

Purchaser
acknowledges and understands that its investment in the Purchased Shares involves a significant degree of risk, including, without
limitation, (i) Issuer remains an early stage business with limited operating history and requires substantial funds in addition
to the proceeds from the sale of the Purchased Shares; (ii) an investment in Issuer is speculative, and only purchasers who can
afford the loss of their entire investment should consider investing in Issuer and the Purchased Shares; (iii) Purchaser may not
be able to liquidate its investment; (iv) transferability of the Purchased Shares is limited; and (v) Purchaser could suffer the
loss of its entire investment. Purchaser has sought such accounting, legal and tax advice from sources other than Issuer as it
has considered necessary to make an informed investment decision with respect to its acquisition of the Purchased Shares. Purchaser
has had an opportunity to receive all information related to Issuer and the Purchased Shares requested by it and to ask questions
of and receive answers from Issuer regarding Issuer, its business and the terms and conditions of the offering of the Purchased
Shares. Neither such inquiries nor any other due diligence investigation conducted by Purchaser shall modify, amend or affect
Purchaser’s right to rely on Issuer’s representations and warranties contained in this Agreement.

 

ARTICLE
5. COVENANTS OF ISSUER

 

Issuer
covenants and agrees with Purchaser as follows:

 

5.1
Access and Information.

 

From
the date hereof until the Closing and subject to Applicable Law, Issuer shall (i) give to Purchaser and its Representatives reasonable
access to the offices, properties, assets, Books and Records of Issuer and its Subsidiaries, (ii) furnish to Purchaser and its
Representatives such financial and operating data and other information as such Persons may reasonably request and (iii) instruct
the Representatives of Issuer and its Subsidiaries to cooperate with Purchaser in its investigation of Issuer and its Subsidiaries.
Any investigation pursuant to this Section 5.1 shall be conducted in such manner as not to interfere unreasonably with
the conduct of the business of Issuer and its Subsidiaries. No information or knowledge obtained in any investigation pursuant
to this Section 5.1 shall affect or be deemed to modify any representation or warranty made by Issuer hereunder.

 

    	 	35	 

    	 

    

 

 

5.2
Conduct of Business Prior to Closing.

 

During
the period from the date hereof until the Closing, Issuer shall, and shall cause each of its Subsidiaries to, conduct its business
in the Ordinary Course of Business and in material compliance with Applicable Law and all Material Contracts. Without limiting
the generality of the foregoing, Issuer shall, and shall cause its Subsidiaries to, (a) timely file all Tax Returns with a due
date on or prior to the Closing Date in a manner consistent with past practice, and (b) use its reasonable best efforts to (i)
preserve intact its present business organization (including preserving all assets in good repair and condition), (ii) maintain
in effect all of its foreign, federal, state and local Permits, (iii) keep available the services of its directors, officers,
employees and Service Providers consistent with Issuer’s Ordinary Course of Business, (iv) continue the ongoing clinical
trials in a diligent manner, and (v) maintain the goodwill and existing relationships with its customers, lenders, suppliers and
others having significant business relationships with it. Without limiting the generality of the foregoing, except as expressly
permitted by this Agreement or as set forth in the applicable subsection of Section 5.2 of the Issuer Disclosure Schedule, during
the period from the date hereof until the Closing, Issuer shall not, nor shall it permit any of its Subsidiaries to:

 

(a)
amend its Charter Documents (whether by merger,
consolidation or otherwise);

 

(b)
(i) split, combine, subdivide or reclassify any
shares of its capital stock (including the Shares), (ii) declare, set aside or pay any dividend or other distribution (whether
in cash, stock or property or any combination thereof) in respect of its capital stock, except for dividends payable to Issuer
or any of its Subsidiaries or (iii) redeem, repurchase or otherwise acquire, or offer to redeem, repurchase or otherwise acquire,
any Issuer Securities or any Issuer Subsidiary Securities;

 

(c)
(i) issue, pledge, dispose of, transfer, encumber,
grant, sell or otherwise deliver, or authorize the issuance, pledge, disposal of, transfer, encumbrance, grant, sale or other
delivery of, any Issuer Securities or Issuer Subsidiary Securities, other than the issuance of (A) any Shares upon the exercise
of Issuer Stock Options or Issuer Warrants or purchase rights under the ESPP, in each case that are outstanding on the date hereof
in accordance with their respective terms on the date hereof and in compliance with the terms of this Agreement, (B) any Shares
upon the vesting of any Issuer RSUs or Issuer Restricted Shares, in each case, that are outstanding on the date hereof in accordance
with their respective terms on the date hereof and (C) any Issuer Subsidiary Securities to Issuer or any other wholly-owned Subsidiary
of Issuer, or (ii) amend any term of any Issuer Security or any Issuer Subsidiary Security (in each case, whether by merger, consolidation
or otherwise);

 

(d)
incur any capital expenditures or any Liabilities
in respect thereof, except for those contemplated by Section 5.2(d) of the Issuer Disclosure Schedule;

 

(e)
acquire (by merger, consolidation, acquisition
of stock or assets or otherwise), directly or indirectly, any assets, securities, properties, interests or businesses, other than
in the Ordinary Course of Business of Issuer and its Subsidiaries in a manner that is consistent with past practice;

 

(f)
merge or consolidate Issuer or any Subsidiary
of Issuer with any Person or adopt a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring,
recapitalization or other reorganization of Issuer or any Subsidiary;

 

    	 	36	 

    	 

    

 

(g)
sell, assign, lease, license or otherwise transfer,
abandon, dispose of or permit to lapse, or create or incur any Lien (other than Permitted Liens incurred in the Ordinary Course
of Business) on, any of Issuer’s or its Subsidiaries’ assets (including any Intellectual Property Rights owned by
or licensed to Issuer or any of its Subsidiaries), securities, properties, interests or businesses, other than (except in the
case of any Intellectual Property Rights owned by or licensed to Issuer or any of its Subsidiaries) in the Ordinary Course of
Business;

 

(h)
(i) extend, grant, amend, waive, cancel, abandon,
allow to lapse or modify any rights in or to the Owned Intellectual Property Rights in a manner that is adverse to Issuer or its
Subsidiaries, (ii) fail to diligently prosecute any material Patent application owned by Issuer or any of its Subsidiaries or
the Licensed Intellectual Property Rights for which Issuer or any of its Subsidiaries controls the prosecution thereof as of the
date of this Agreement or (iii) divulge, furnish or make accessible any Owned Intellectual Property Rights that constitute Trade
Secrets, other than in the Ordinary Course of Business to any Third Party that is subject to an enforceable written agreement
to maintain the confidentiality of such Trade Secrets;

 

(i)
make any loans, advances or capital contributions
to, or investments in, any other Person;

 

(j)
create, incur, assume, suffer to exist or otherwise
become liable with respect to any indebtedness for borrowed money or guarantees thereof, or issue or sell any debt securities
or options, warrants, calls or other rights to acquire any debt securities of Issuer or any of its Subsidiaries;

 

(k)
except with the prior written consent of Purchaser
(such consent not to be unreasonably withheld, conditioned or delayed), (i) renew, enter into, amend or modify in any material
respect or terminate any Material Contract or any Contract that would constitute a Material Contract if it were in effect on the
date of this Agreement (except the expiration or automatic renewal of any Material Contract in accordance with its terms) or (ii)
waive, release or assign any material rights, claims or benefits of Issuer or any of its Subsidiaries thereunder;

 

    	 	37	 

    	 

    

 

(l)
(i) with respect to any current or former Service Provider, (A) grant or increase any compensation, bonus, severance, retention,
change in control, termination pay, welfare or other benefits to (or amend any existing severance pay or termination arrangement),
(B) grant any equity or equity-based awards to, or amend or discretionarily accelerate the vesting or payment of any such awards
held by, any current or former Service Provider or other person or (C) enter into, establish, adopt, amend or terminate any Employment
Agreement, Consulting Agreement, or any other employment, consulting services, severance, retention, change in control, termination
pay, retirement, deferred compensation or other similar agreement or arrangement, (ii) establish, adopt, enter into, amend (except
as required by Applicable Law), or become obligated to contribute to any Employee Plan or Collective Bargaining Agreement, other
than routine amendments to Employee Plans that do not result in materially increased costs, (iii) recognize any new union, works
council or similar employee representative with respect to any current or former Service Provider, (iv) establish, adopt or enter
into any plan, agreement or arrangement, or otherwise commit, to gross up or indemnify, or otherwise reimburse any current or
former Service Provider for any Tax incurred by such Service Provider, including under Section 409A or Section 4999 of the Code,
(v) take any action to fund or in any other way secure the payment of compensation or benefits under any employee plan, agreement,
Contract or arrangement or Employee Plan, (vi) make any material determination under any Employee Plan that is inconsistent with
Issuer’s Ordinary Course of Business, or (vii) hire or engage the services of any individual as a Service Provider or terminate
the service of any Service Provider (or induce or attempt to induce any Service Provider to terminate his or her service) other
than for cause;

 

(m)
change Issuer’s methods, principles, practices
or policies of accounting, in each case except as required by concurrent changes in GAAP or in Regulation S-X, as agreed to by
its independent public accountants;

 

(n)
commence, compromise, settle, or offer or propose
to settle, (i) any Action, (ii) any stockholder Action or dispute against Issuer, any of its Subsidiaries or any of their respective
officers or directors or (iii) any Action or dispute that relates to the transactions contemplated hereby;

 

(o)
make or change any Tax election, change any Tax
accounting period, adopt or change any method of Tax accounting, amend any Tax Returns or file claims for material Tax refunds,
file any Tax Returns that are due after the Closing Date, enter into any closing agreement with respect to Taxes, settle any Tax
claim, audit or assessment, surrender any right to claim a Tax refund, offset or other reduction in Tax Liability, or Consent
to any extension or waiver of the statute of limitations period applicable to any claim or assessment in respect of Taxes;

 

(p)
terminate or modify in any material respect,
or fail to exercise renewal rights with respect to, any insurance policy;

 

(q)
assign, transfer, lease, cancel, fail to renew
or fail to extend any Permit;

 

(r)
forgive any loans to directors, officers, employees
or any of their respective Affiliates;

 

(s)
amend or modify the letter of engagement of the
Financial Advisor or engage other advisors or consultants in connection with the transactions contemplated hereby;

 

(t)
pre-pay any long-term indebtedness for borrowed
money;

 

    	 	38	 

    	 

    

 

(u)
pay or discharge any claims, Liens or Liabilities
which are not reserved for or reflected in the Issuer Balance Sheet;

 

(v)
implement any plant closing, relocation or layoff
of employees that could implicate the WARN Act or any similar Applicable Law;

 

(w)
enter into or amend any Contract, or take any
other action, that would reasonably be expected to prevent or materially delay or materially impair the consummation of the Sale;
or

 

(x)
agree, resolve or commit to do any of the foregoing.

 

5.3
Issuer Stockholder Meeting.

 

(a)
As promptly as reasonably practicable (and in
any event within five Business Days after the date hereof), Issuer shall prepare (and shall give Purchaser a reasonable opportunity
to review and comment on) and file the Issuer Proxy Statement with the SEC. Issuer shall use its reasonable best efforts to cause
the Issuer Proxy Statement to be cleared by the SEC as soon as practicable after the date hereof and to be mailed to its stockholders
as promptly as practicable thereafter. Issuer shall use its reasonable best efforts to ensure that the Issuer Proxy Statement,
and any amendments or supplements thereto, comply in all material respects with the rules and regulations promulgated by the SEC
under the 1934 Act and comply in all respects with all applicable requirements under the NRS (including NRS 92A.300 through 92A.500,
inclusive) and the Charter Documents. Issuer and Purchaser shall cooperate with one another (i) in connection with the preparation
of the Issuer Proxy Statement and (ii) in determining whether any action by or in respect of, or filing with, any Governmental
Authority is required, or any actions, Consents or waivers are required to be obtained from parties to any material Contracts
or in connection with the consummation of the transactions contemplated by this Agreement. In addition, Issuer and Purchaser shall
use their respective reasonable best efforts to take such actions or make any such filings and furnish information required in
connection therewith or with the Issuer Proxy Statement, and timely seek to obtain such actions, Consents or waivers from parties
under such material Contracts.

 

(b)
Issuer shall cause a meeting of its stockholders
(the “Issuer Stockholder Meeting”) to be duly called and held as promptly as reasonably practicable after the
SEC or its staff advises that it has no further comments on the Issuer Proxy Statement or that Issuer may commence mailing the
Issuer Proxy Statement for the purpose of voting on the approval of this Agreement and shall comply with all Applicable Law with
respect to such meeting and the solicitation of proxies in connection therewith. Issuer shall cause the Issuer Proxy Statement
to comply in all respects with the applicable provisions of the NRS and the Charter Documents, and to be mailed to the stockholders
of Issuer as of the record date established for Issuer Stockholders Meeting as promptly as reasonably practicable thereafter.
Issuer shall use its reasonable best efforts to solicit from Issuer’s stockholders proxies in favor of the approval of this
Agreement and the transactions contemplated hereby and the Articles Amendment, and shall take all other action necessary or advisable
to secure Issuer Stockholder Approval.

 

    	 	39	 

    	 

    

 

(c)
Any adjournment, delay or postponement of Issuer
Stockholder Meeting shall require the prior written consent of Purchaser; provided that Issuer shall be permitted to adjourn,
delay or postpone Issuer Stockholder Meeting (i) with the consent of Purchaser (such consent not to be unreasonably withheld,
conditioned or delayed) for the absence of a quorum or (ii) after consultation with Purchaser, solely to the extent necessary
to ensure that any legally required supplement or amendment to the Issuer Proxy Statement is provided to the stockholders of Issuer
with adequate time to review. Purchaser may require Issuer to adjourn, delay or postpone Issuer Stockholder Meeting for up to
five days or as otherwise agreed by the parties (but prior to the date that is two Business Days prior to the End Time) to solicit
additional proxies necessary to obtain Issuer Stockholder Approval. Once Issuer has established a record date for Issuer Stockholder
Meeting, Issuer shall not change such record date or establish a different record date for Issuer Stockholders Meeting without
the prior written consent of Purchaser, unless required to do so by Applicable Law or Issuer’s organizational documents.
Without the prior written consent of Purchaser, the approval of this Agreement and the transactions contemplated hereby and the
Articles Amendment and the Bylaws Amendment shall be the only matters (other than matters of procedure and matters required by
Applicable Law to be voted on by Issuer’s stockholders in connection with the approval of this Agreement and the transactions
contemplated hereby and the Articles Amendment and the Bylaws Amendment) that Issuer shall propose to be acted on by the stockholders
of Issuer at Issuer Stockholder Meeting.

 

5.4
Nasdaq Listing.

 

Issuer
shall use its commercially reasonable efforts to cause the Purchased Shares to be approved for listing on Nasdaq prior to the
Closing.

 

5.5
Exclusivity.

 

Issuer
shall, and shall cause its Subsidiaries and its and their Representatives to, (i) cease immediately and cause to be terminated
any and all existing activities, discussions or negotiations, if any, with any Third Party and its Representatives conducted on
or prior to the date hereof with respect to any Competing Proposal and (ii) not engage in any discussions or enter into any agreements
or share any information with any Third Party relating to a Competing Proposal. Until the earlier of the Closing and the termination
of this Agreement pursuant to ARTICLE 10, from and after the date hereof, Issuer shall, as promptly as reasonably practicable,
and in any event within two (2) Business Days of receipt by Issuer or any of its Representatives of any Competing Proposal or
any inquiry that could reasonably be expected to lead to a Competing Proposal, deliver to Purchaser a written notice setting forth:
(A) the identity of the Person making such Competing Proposal or inquiry and (B) the material terms and conditions of such Competing
Proposal or an unredacted copy of any documents in connection with such Competing Proposal. Issuer shall keep Purchaser reasonably
informed of any amendment or modification of any such Competing Proposal on a prompt basis, and in any event within two (2) Business
Days.

 

    	 	40	 

    	 

    

 

5.6
Takeover Statutes.

 

Issuer
and the Board shall (a) take all actions necessary so that no “control share acquisition,” “fair price,”
“moratorium,” “business combination” or other antitakeover or similar statute or regulation becomes applicable
to any of the transactions contemplated by this Agreement, and so that Purchaser will not be considered an “interested stockholder”
for purposes of NRS 78.3787, and (b) if any such antitakeover or similar statute or regulation becomes applicable to the transactions
contemplated by this Agreement, to grant such approvals and take all actions necessary so that the transactions contemplated by
this Agreement may be consummated as promptly as practicable on the terms contemplated herein and otherwise to take all such other
actions as are reasonably necessary to eliminate or minimize the effects of any such statute or regulation on the transactions
contemplated hereby.

 

5.7
Interim Communications by Issuer.

 

Prior
to making any communications generally disseminated to the employees, customers, lenders, suppliers or other Persons having material
business relationships with Issuer or any of its Subsidiaries relating to the transactions contemplated by this Agreement, Issuer
shall provide Purchaser with prior notice of the intended communication, Purchaser shall have the right to review such communication
and provide comments, which Issuer shall consider in good faith to provide a mutually agreeable communication.

 

5.8
Lock-Up.

 

Except
as may be required by Law or a Governmental Authority, without the prior written consent of Issuer, Purchaser will not sell or
otherwise dispose of, directly or indirectly, any Shares acquired under the Agreement for a period of six (6) months following
the time when the shares are issued hereunder (such time period, the “Lock-Up Period”). However, this Section
5.8 shall not prohibit sales or other dispositions in connection with any merger, share exchange, consolidation, tender offer
or other similar corporate transaction

 

    	 	41	 

    	 

    

 

5.9
Standstill.

 

From
the period beginning on the date hereof until the expiration of the Option Period, or earlier termination of this Agreement, other
than to the extent contemplated or permitted by this Agreement or upon Issuer’s written consent or request, Purchaser shall
not, and shall cause each of its controlled Affiliates not to:

 

(a)
acquire, offer or propose to acquire, or agree
to acquire directly or indirectly, whether by purchase, tender or exchange offer, through the acquisition of control of another
Person, by joining a partnership, limited partnership, syndicate or other “group” (within the meaning of Section 13(d)(3)
of the 1934 Act), any Common Stock in excess of one percent of the outstanding Common Stock;

 

(b)
effect or seek, offer or propose (whether publicly
or otherwise) or enter into an agreement to effect, or cause or participate in or in any way knowingly assist any other Person
to effect or seek, offer or propose (whether publicly or otherwise) to effect or participate in, any tender or exchange offer,
merger or other business combination involving Issuer or any recapitalization, restructuring, liquidation, dissolution or other
extraordinary transaction with respect to Issuer;

 

(c)
(i) make, engage or in any way participate in,
directly or indirectly, any “solicitation” (as such term is used in the proxy rules of the SEC) of proxies or consents
with respect to the Common Stock (whether or not relating to the election or removal of directors), (ii) seek to advise, encourage
or influence any Person with respect to the voting of any Common Stock in opposition to the recommendation of the Board with respect
to any matter, (iii) initiate, propose or otherwise “solicit” (as such term is defined in Rule 14a-1(l) under the
1934 Act, or, if amended, as amended and in effect at the time in question) Issuer’s stockholders for the approval of any
stockholder proposal, regardless of its purpose and whether made pursuant to Rule 14a-8 or Rule 14a-4 under the 1934 Act or otherwise,
(iv) knowingly induce or attempt to induce any other Person to initiate any such stockholder proposal, or (v) otherwise communicate
or seek to communicate with Issuer’s stockholders or others pursuant to Rule 14a-1(l)(2)(iv) under the 1934 Act;

 

(d)
call or seek to call, directly or indirectly,
any special meeting of stockholders of Issuer for purposes of approving any transaction other than the transactions contemplated
by this Agreement or any Ancillary Agreement, or seek, request, or take any action to obtain or retain, directly or indirectly,
any list of holders of the Common Stock or other securities of Issuer other than for the aforementioned purpose;

 

(e)
form, join or in any way participate in any “group”
(within the meaning of Section 13(d)(3) of the 1934 Act) with respect to the Common Stock, other than a “group” that
includes Issuer’s stockholders and their Affiliates with respect to actions specifically required or permitted by this Agreement;

 

(f)
deposit any Common Stock in any voting trust
or subject any Common Stock to any arrangement or agreement with respect to the voting of the Common Stock;

 

(g)
seek, alone or in concert with others, election
or appointment to, or representation on, or nominate or propose the nomination of any candidate to, the Board or seek any change
in the composition of the Board or management of Issuer, including any plans or proposals to change the number or term of directors,
to remove any director or to fill any vacancies on the Board, in each case other than as expressly required or permitted by this
Agreement or any Ancillary Agreement; or

 

    	 	42	 

    	 

    

 

(h)
knowingly initiate, solicit, assist, facilitate,
finance, or encourage or otherwise participate in the taking of any of the foregoing actions by any other Person or enter into
any discussions, negotiations, arrangements or understandings with any other Person with respect to any of the foregoing actions.

 

This
Section 5.9 shall automatically terminate and be of no force or effect at such time that (i) a Competing Proposal (as defined
below) shall have been publicly proposed by Issuer (and not publicly withdrawn), or a “group” (as defined under the
1934 Act) or any Person unaffiliated with Purchaser shall have publicly made (and not publicly withdrawn) a bona fide proposal
with respect to a Competing Proposal, (ii) Issuer shall have entered into an agreement in principle or definitive agreement providing
for any Competing Proposal, (iii) Issuer or any Person discloses (by press release, the filing of a report on Schedule 13D, the
making of a tender or exchange offer or otherwise) that it is in discussions or negotiations with either Purchaser, any shareholder
or any “group” (as defined under the 1934 Act) or Person unaffiliated with Purchaser with respect to a Competing Proposal,
(iv) a “group” (as defined under the 1934 Act) or Person unaffiliated with Purchaser (A) solicits proxies to effect
a change in the majority of the Board or (B) Beneficially Owns (as defined in the Stockholder Agreement) 20% or more of the outstanding
Common Stock, or (v) Issuer commences or publicly announces an intention to commence a sales process, a review of strategic alternatives
or a similar process indicating its openness to consideration of a Competing Proposal or shall have engaged an investment bank
for the purpose, in whole or in part, of soliciting interest of one or more Third Parties in a Competing Proposal. Notwithstanding
anything to the contrary contained herein, this Section 5.9 shall not restrict in any way the directors appointed by Purchaser
to the Board from satisfying their fiduciary duties.

 

5.10
Anti-Dilution.

 

Upon
the exercise of any Company option or warrant in existence at the time of this Agreement or granted on or after the date hereof
and prior to the Closing, Issuer shall provide Purchaser written notice of such exercise or issuance, as applicable, including
the material terms of such exercise or issuance, as applicable, within five (5) Business Days of such exercise or issuance. Within
60 days of Purchaser receiving such notice, Purchaser shall have the right, but not the obligation, to purchase additional shares
of Common Stock at a purchase price equal to the same exercise price or purchase price paid by each such option holders or warrant
holder, up to an amount of shares required for Purchaser to Beneficially Own 53% of the outstanding Common Stock. Issuer covenants
to use its reasonable best efforts to maintain a sufficient number of authorized share of Common Stock in order to allow for issuances
pursuant to this Section 5.10 and, if at any time there are insufficient authorized shares notwithstanding the foregoing
covenant, Issuer shall take all actions necessary to increase the number of authorized Common Stock to comply with this Section
5.10, including holding a meeting of stockholders as promptly as practicable.

 

    	 	43	 

    	 

    

 

5.11
Director Resignation.

 

Immediately
prior to the Closing, the Company shall cause one member of the existing Board of Directors to resign.

 

ARTICLE
6. MUTUAL COVENANTS

 

6.1
Notice of Certain Events.

 

Each
of Issuer and Purchaser shall promptly notify the other of:

 

(a)
any notice or other communication from any Person
alleging that the Consent of such Person is or may be required in connection with the transactions contemplated by this Agreement;

 

(b)
any notice or other communication from any Governmental
Authority in connection with the transactions contemplated by this Agreement;

 

(c)
any Actions commenced or, to such Party’s
knowledge, threatened against, relating to or involving or otherwise affecting such Party or any of its Subsidiaries, as the case
may be, (i) that, if pending on the date of this Agreement, would have been required to have been disclosed pursuant to any Section
of this Agreement or (ii) that relate to this Agreement or the consummation of the transactions contemplated hereby;

 

(d)
any inaccuracy in any material respect of any
representation or warranty contained in this Agreement at any time during the term hereof;

 

(e)
any failure of such Party to comply with or satisfy
any covenant, condition or agreement to be complied with or satisfied by it hereunder; and

 

(f)
any event, condition, fact or circumstance that
has a materially adverse impact on the likelihood that all of the conditions set forth in ARTICLE 7 or ARTICLE 8
will be satisfied prior to the End Time, or that causes or is reasonably likely to cause an Issuer Material Adverse Effect.

 

In
no event shall (i) the delivery of any notice by a Party pursuant to this Section 6.1 limit or otherwise affect the respective
rights, remedies, obligations, representations, warranties, covenants or agreements of the Parties or the conditions to the obligations
of the Parties under this Agreement or (ii) disclosure by Issuer or Purchaser be deemed to amend or supplement the Issuer Disclosure
Schedule or constitute an exception to any representation or warranty of the disclosing Party.

 

    	 	44	 

    	 

    

 

6.2
CFIUS.

 

Purchaser
and Issuer shall jointly file an informal communication (“Informal Notice”) to CFIUS with respect to the transactions
contemplated hereby within five (5) Business Days of the date hereof in order to apprise CFIUS of and generally describe such
transactions and the business of Issuer and its Subsidiaries and further explain that no formal notification or declaration is
required under the Defense Production Act, as amended (“DPA”), and the Treasury regulations promulgated thereunder
(“Treasury Regulations”). Purchaser shall take the lead in preparing the Informal Notice and Issuer shall provide
all necessary information for Issuer and its Subsidiaries relating to the Informal Notice. In the event that CFIUS requests that
the Parties file a declaration notification with respect to the contemplated transactions pursuant to the DPA and Treasury Regulations,
Purchaser and Issuer shall file such declaration or notification (“Notification”) within ten (10) Business
Days after the receipt of the request. Purchaser shall take the lead in preparing the Notification and Issuer shall provide all
necessary information for Issuer and its Subsidiaries. The Parties shall each, to their fullest ability, provide CFIUS with any
additional or supplemental information requested by CFIUS or its member agencies or departments during the CFIUS review process
(“Additional Filings”), act in good faith and reasonably cooperate with each other in connection with any such
Additional Filings (including to provide copies of any such Additional Filings to outside counsel for the non-filing Party in
draft form in advance of its submission to CFIUS), and keep the other Party informed of any material communication received by
such Party from, or given by such Party to, CFIUS or its member departments and agencies related to the transactions contemplated
by this Agreement.

 

6.3
Further Mutual Covenants.

 

Purchaser
and Issuer shall each take such actions contemplated by this Agreement, and, subject to Purchaser’s and Issuer’s,
as applicable, right to terminate this Agreement pursuant to ARTICLE 10, do all things necessary (to the extent commercially
reasonable) to effect the consummation of the transactions contemplated by this Agreement. Except as otherwise provided in this
Agreement, Purchaser and Issuer shall each refrain from knowingly taking or failing to take any action which would render any
of the representations or warranties contained in ARTICLE 3 or ARTICLE 4, as applicable, of this Agreement inaccurate
in any material respect as of the Closing Date. Each Party shall promptly notify the other Party of any Litigation that is instituted
or threatened against such Party to restrain, prohibit, or otherwise challenge the legality of any transaction contemplated by
this Agreement.

 

6.4
Commercially Reasonable Efforts.

 

Issuer
and Purchaser will use commercially reasonable efforts to cause the conditions in ARTICLE 7 and ARTICLE 8 to be
satisfied.

 

    	 	45	 

    	 

    

 

6.5
Listing.

 

Issuer
shall use its reasonable best efforts to cause the Purchased Shares to be approved for listing on Nasdaq immediately following
the Lock-Up Period.

 

ARTICLE
7. CONDITIONS PRECEDENT TO OBLIGATIONS OF PURCHASER

 

The
obligation of Purchaser to consummate the transactions contemplated by this Agreement shall be subject to the satisfaction, on
or before the Closing Date, of each of the following conditions, all or any of which may be waived in writing, in whole or in
part, by Purchaser:

 

7.1
Representations and Warranties.

 

The
representations and warranties of Issuer contained in ARTICLE 3 shall be true and correct in all material respects both
when made and as of the Closing Date (except to the extent expressly made as of an earlier date, in which case as of such date)
(provided for purposes of this Section 7.1 all “Material Adverse Effect” qualifications and other
materiality qualifications limiting the scope of the representations and warranties of Issuer contained in this Agreement will
be disregarded). Purchaser will have received a certificate to such effect signed by an officer of Issuer, as of the Closing Date,
executed by Issuer, to such effect.

 

7.2
Compliance by Issuer.

 

Issuer
shall have duly performed in all material respects all of the covenants, agreements, and conditions contained in this Agreement
to be performed by Issuer on or prior to the Closing Date (as applicable) and Purchaser shall have received a certificate dated
the Closing Date, executed by an authorized officer of Issuer to such effect. Purchaser shall have received from Issuer such certificates
or other evidence, dated as of the Closing Date, as Purchaser or its counsel shall reasonably request to evidence the performance
of all covenants and the fulfillment by Issuer, or such other satisfaction at or prior to the Closing Date, of the terms and conditions
of this Agreement.

 

7.3
No Injunction; Litigation.

 

No
Litigation, regulation, or legislation shall be pending or overtly threatened by a Third Party which seeks to enjoin, restrain,
or prohibit Purchaser in respect of the consummation of the transactions contemplated hereby.

 

7.4
Consents; Authorizations; Approval of Legal Matters.

 

All
authorizations, Orders, or Consents of any Governmental Authority or Nasdaq, if any, required to consummate the issuance and sale
of the Purchased Shares to Purchaser shall have been obtained. Purchaser shall have received a certificate dated as of the relevant
Closing Date, executed by Issuer to the foregoing effect, and Purchaser shall be reasonably satisfied with the terms, conditions,
and restrictions of and obligations under each such authorization, Order, or Consent.

 

    	 	46	 

    	 

    

 

7.5
No Material Adverse Change.

 

There
shall not have occurred any change or development that would constitute an Issuer Material Adverse Effect, and Purchaser shall
have received a certificate dated as of the Closing Date, executed by a duly authorized officer of Issuer to such effect.

 

7.6
Closing Precedent Transactions.

 

The
transactions contemplated by Section 2.2 shall have occurred and the Registration Rights Agreement shall be fully executed
and effective.

 

7.7
Simultaneous Closing.

 

The
Closing shall occur simultaneously with the Closing (as defined in the Sirtex SPA) of the Stock Purchase Agreement by and between
Issuer and Sirtex Medical US Holdings, Inc. (“Sirtex”), dated as of the date hereof (the “Sirtex SPA”).

 

7.8
Issuer Approvals.

 

Issuer
shall have obtained Issuer Stockholder Approval for this Agreement and the transactions contemplated hereby, including in connection
with the Articles Amendment, to increase the number of authorized Common Stock from 26,000,000 to 30,000,000 and other related
matters, and any necessary approvals under Nasdaq rules. Issuer shall have filed the Articles Amendment and such amendment shall
be effective. The Bylaws Amendment shall have been approved and adopted by the Board.

 

ARTICLE
8. CONDITIONS PRECEDENT TO OBLIGATIONS OF ISSUER

 

The
obligation of Issuer to consummate the transactions contemplated by this Agreement shall be subject to the satisfaction, on or
before the relevant Closing Date (as applicable) hereunder, of each of the following conditions, all or any of which may be waived,
in whole or in part, by Issuer.

 

8.1
Certificate Regarding Representations and Warranties.

 

The
representations and warranties of Purchaser contained in ARTICLE 4 shall be true and correct in all material respects both
when made and as of the Closing Date (except to the extent expressly made as of an earlier date, in which case as of such date)
(provided for purposes of this Section 8.1 all material adverse effect qualifications and other materiality qualifications
limiting the scope of the representations and warranties of Purchaser contained in this Agreement will be disregarded), and Issuer
shall have received a certificate dated as of the Closing Date, executed by Purchaser, to such effect.

 

    	 	47	 

    	 

    

 

8.2
Compliance by Purchaser.

 

Purchaser
shall have duly performed in all material respects all of the covenants, agreements, and conditions contained in this Agreement
to be performed by Purchaser on or before the Closing Date, and Issuer shall have received a certificate dated as of the Closing
Date, executed by Purchaser, to such effect. Issuer shall have received from Purchaser all applicable closing deliveries, and
such certificates or other evidence, duly executed by Purchaser, dated as of the Closing Date, as Issuer or its counsel shall
reasonably request to evidence the performance of all covenants and the fulfillment by Purchaser, or such other satisfaction at
or prior to the Closing Date, of the terms and conditions of this Agreement, including Purchaser’s executed counterpart
to the Registration Rights Agreement.

 

8.3
No Injunction, Litigation.

 

No
Litigation, regulation, or legislation shall be pending or overtly threatened by a Third Party which seeks to enjoin, restrain,
or prohibit Issuer, in respect of the consummation of the transactions contemplated hereby.

 

8.4
Consents; Authorizations; Approval of Legal Matters.

 

All
authorizations, Orders, or Consents of any Governmental Authority required to consummate the issuance and sale of the Purchased
Shares to Purchaser shall have been obtained. Issuer shall have received a certificate dated as of the Closing Date, executed
by Purchaser to the foregoing effect, and Issuer shall be reasonably satisfied with the terms, conditions, and restrictions of
and obligations under each such authorization, Order, or Consent.

 

8.5
Issuer Stockholder Approval.

 

Issuer
shall have obtained Issuer Stockholder Approval for this Agreement and the transactions contemplated hereby, including in connection
with the Articles Amendment and any necessary approvals under Nasdaq rules.

 

ARTICLE
9. CONFIDENTIALITY; PUBLIC ANNOUNCEMENTS

 

9.1
Confidentiality.

 

The
Information is disclosed to Purchaser solely for Purchaser’s use in completing its analysis incidental to this Agreement,
and Purchaser agrees that its use of the Information will be governed by the terms and conditions of the Confidentiality Agreement,
as amended on the date hereof.

 

    	 	48	 

    	 

    

 

9.2
Public Announcements.

 

The
initial press release concerning this Agreement and the transactions contemplated hereby shall be a joint press release of Issuer,
Purchaser and Sirtex to be reasonably agreed upon by Issuer and Purchaser. Following such initial press release, Purchaser and
Issuer shall consult with each other before issuing any additional press release, making any other public statement or scheduling
any press conference, conference call or meeting with investors or analysts with respect to this Agreement or the transactions
contemplated hereby (unless such press release or public statement contains, or the statements made during such press conference,
conference call or meeting as they relate to this Agreement or the transactions contemplated hereby include, in any case, only
information that has been previously disclosed in the initial press release or other statements consented to in writing by Purchaser)
and, except as may be required by Applicable Law or any listing agreement with or rule of any national securities exchange or
association; provided, however, that the restrictions set forth in this Section 9.2 shall not apply to any
release or public statement in connection with any dispute between the Parties regarding this Agreement, the Sale or the other
transactions contemplated hereby.

 

ARTICLE
10. TERMINATION

 

10.1
Termination.

 

(a)
The obligation of Issuer to sell, and Purchaser
to purchase, the Purchased Shares on the Closing Date may be terminated:

 

(i)
by the mutual consent of Purchaser and Issuer;

 

(ii)
by either Party if the Closing shall not have
occurred on or before March 31, 2020 (the “End Time”); provided that the right to terminate this Agreement
pursuant to this Section 10.1(a)(ii) shall not be available to any Party whose breach of any representation, warranty,
covenant, agreement or provision of this Agreement has caused or resulted in the failure of the Closing to occur by the End Time;

 

(iii)
by Purchaser if (i) any condition in ARTICLE
7 becomes impossible to perform or satisfy (other than as a result of a material breach or default by Purchaser in the performance
of its obligations hereunder) and the performance of such condition has not been waived by Purchaser in writing at or prior to
the Closing Date or (ii) the Issuer materially breaches any of its covenants or agreements contained herein and such breach is
not cured (if capable of being cured) within ten (10) days after written notice of such breach; or

 

(iv)
by Issuer if (i) any condition in ARTICLE
8 becomes impossible to perform or satisfy (other than as a result of a material breach or default by Issuer in the performance
of its obligations hereunder) and the performance of such condition has not been waived by Issuer in writing at or prior to the
Closing Date or (ii) Purchaser materially breaches any of its covenants or agreements contained herein and such breach is not
cured (if capable of being cured) within ten (10) days after written notice of such breach.

 

    	 	49	 

    	 

    

 

(b)
Upon termination, this Agreement shall be terminated
in its entirety and each provision of this Agreement shall have no further force and effect, except for ARTICLE 9 and Section
11.2, each of which shall survive; provided that no such termination shall relieve any party from any liability or
damages resulting from a willful and material breach of any of its representations, warranties, covenants or agreements set forth
in this Agreement or fraud, in which case the non-breaching party shall be entitled to all rights and remedies available at law
or in equity; provided further that in the event of a termination of this Agreement related to a material breach of this
Agreement by Issuer, Issuer shall pay to Purchaser (by wire transfer of immediately available funds), promptly (but in no event
more than three (3) Business Days) following such termination, a termination fee in the amount of $1,200,000.

 

ARTICLE
11. GENERAL PROVISIONS

 

11.1
Definitions.

 

(a)
The terms set forth below shall have the meanings
ascribed thereto in the referenced sections:

 

	Term	 	Page	 	Term	 	Page
	Additional Filings	 	45	 	Financial Advisor	 	28
	Agreement	 	1	 	Informal Notice	 	45
	Change of Control Payment	 	27	 	Issuer	 	1
	Charter Documents	 	3	 	Issuer Board Recommendation	 	4
	Closing	 	3	 	Issuer Covered Person	 	33
	Closing Date	 	3	 	Issuer Covered Persons	 	33
	Common Stock	 	1	 	Issuer Proxy Statement	 	10
	Disqualification Event	 	32	 	Issuer SEC Documents	 	8
	DPA	 	45	 	Issuer Securities	 	7
	DRS	 	3	 	Issuer Stockholder Approval	 	4
	End Time	 	49	 	Issuer Stockholder Meeting	 	40
	FCPA	 	11	 	Issuer Subsidiary Securities	 	7
	Federal Health Care Programs	 	29	 	Lease	 	12
	Leased Real Property	 	13	 	Purchaser	 	1
	Lock-Up Period	 	41	 	Recapitalization	 	2
	Material Adverse Effect	 	46	 	Registration Rights Agreement	 	1
	Material Contracts	 	27	 	Related Party	 	32
	Notification	 	45	 	Sale	 	1
	Option Notice	 	2	 	Sanctions	 	11
	Option Period	 	2	 	Share	 	1
	Personal Information	 	61	 	Shares	 	1
	Privacy and Information Security Requirements	 	61	 	Sirtex	 	47
	Privacy Notices	 	17	 	Sirtex SPA	 	47
	Purchase Option	 	2	 	Stockholder Agreement	 	1
	Purchase Price	 	2	 	Treasury Regulations	 	45
	Purchased Shares	 	1	 	UK Bribery Act	 	11

 

    	 	50	 

    	 

    

 

(b)
Except as otherwise provided herein, the capitalized
terms set forth below shall have the following meanings:

 

(i)
“1933 Act” means the Securities
Act of 1933, as amended.

 

(ii)
“1934 Act” means the Securities
Act of 1934, as amended.

 

(iii)
“Action” means any action,
suit, investigation, examination, audit (including Tax audit), litigation, arbitration, mediation, demand, charge, complaint,
claim (including any cross-claim or counterclaim), enforcement action or proceeding (including any civil, criminal, administrative,
investigative or appellate proceeding).

 

(iv)
“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 1933 Act.

 

(v)
“Ancillary Agreements” means
the Stockholder Agreement, the Registration Rights Agreement and the License Agreement.

 

(vi)
“Applicable Law” means, with
respect to any Person, any transnational, domestic or foreign, federal, state, local or provincial Law (statutory, common or otherwise),
constitution, treaty, convention, ordinance, code, rule, regulation, Order, Permit, injunction, judgment, decree, ruling or other
similar requirement enacted, adopted, promulgated or applied by a Governmental Authority that is binding on or applicable to such
Person.

 

(vii)
“Articles Amendment” means
an amendment to the Articles of Incorporation in substantially the same form as Exhibit D hereto.

 

(viii)
“Articles of Incorporation”
means the Articles of Incorporation of Issuer, as amended.

 

(ix)
“Board” shall mean Issuer’s
board of directors.

 

(x)
“Books and Records” means
all existing data, databases, books, records, correspondence, business plans and projections, tenant and vendor lists, files,
papers, and, to the extent permitted under Applicable Law, copies of historical personnel, payroll and medical records of each
of the Employees in the possession of Issuer, including employment applications, employment agreements, confidentiality and non-compete
agreements, corrective action reports, disciplinary reports, notices of transfer, notices of rate changes, other similar documents,
and any summaries of such documents regularly prepared by Issuer; all reported medical claims made for each Employee; and all
manuals and printed instructions of Issuer.

 

    	 	51	 

    	 

    

 

(xi)
“Business Day” means a day,
other than Saturday, Sunday or other day on which commercial banks in New York, New York or the People’s Republic of China
(including the Hong Kong Special Administrative Region) are authorized or required by Applicable Law to close.

 

(xii)
“Bylaws” means the Bylaws
of Issuer, as amended.

 

(xiii)
“Bylaws Amendment” means an
amendment to the Bylaws in substantially the same form as Exhibit E hereto.

 

(xiv)
“CFIUS” means the Committee
on Foreign Investment in the U.S.

 

(xv)
“Code” means the Internal
Revenue Code of 1986, as amended.

 

(xvi)
“Collective Bargaining Agreement”
means any written or oral agreement, memorandum of understanding or other contractual obligation between Issuer or any of its
Subsidiaries and any labor organization or other authorized employee representative representing Service Providers, including
any collective bargaining, works council or similar agreement.

 

(xvii)
“Competing Proposal” means,
other than the transactions contemplated by this Agreement, any Third Party offer, proposal or inquiry relating to, or any Third
Party indication of interest in, in a single transaction or a series of related transactions, (i) any acquisition or purchase,
direct or indirect, of assets representing 15% or more of the consolidated assets of Issuer and its Subsidiaries or 15% or more
of any class of equity or voting securities of Issuer or any of its Subsidiaries whose assets, individually or in the aggregate,
constitute 15% or more of the consolidated assets of Issuer, (ii) any tender offer (including a self-tender offer) or exchange
offer that, if consummated, would result in any Third Party’s Beneficially Owning (as defined in the Stockholder Agreement)
15% or more of any class of equity or voting securities of Issuer or any of its Subsidiaries whose assets, individually or in
the aggregate, constitute 15% or more of the consolidated assets of Issuer and its Subsidiaries, (iii) a merger, consolidation,
share exchange, business combination, sale of substantially all of the assets, reorganization, recapitalization, liquidation,
dissolution or other similar transaction involving Issuer or any of its Subsidiaries whose assets, individually or in the aggregate,
constitute 15% or more of the consolidated assets of Issuer, (iv) any acquisition or exclusive license of any Product or Owned
Intellectual Property Rights or (v) any other transaction the consummation of which would reasonably be expected to impede, interfere
with, prevent or materially delay the Sale, or that would reasonably be expected to dilute materially the benefits to Purchaser
of the transactions contemplated hereby.

 

(xviii)
“Confidentiality Agreement”
means that certain Mutual Confidential Disclosure Agreement, dated as of March 25, 2019, by and between China Grand Enterprise
Ltd and Issuer.

 

    	 	52	 

    	 

    

 

(xix)
“Consent” means any consent,
approval or authorization.

 

(xx)
“Consulting Agreement” means
each consulting, Service Provider, change in control or other agreement or Contract between Issuer or a Subsidiary of Issuer and
any Independent Contractor.

 

(xxi)
“Contract” means, with respect
to any Person, any legally binding contract, agreement, lease, sublease, license, sublicense commitment, sale or purchase order,
indenture, note, bond, loan, mortgage, deed of trust, concession, franchise, Permit, instrument or other arrangement, commitment
or undertaking, including any exhibits, annexes, appendices or attachments thereto, whether written or oral, to which such Person
is a party or by which such Person or such Person’s properties or assets are bound.

 

(xxii)
“Data Processors” means any
Third Party Service Providers, software developers, outsources, or others to which Issuer or any Issuer Subsidiary engages and
allows access to Personal Information or IT Assets that hold Personal Information.

 

(xxiii)
“Drug Application”
shall mean a New Drug Application or a Biologic License Application, as those terms are defined in the FDCA and PHSA and the
FDA regulations promulgated thereunder, for any FDA Related Product, as appropriate, in each case of Issuer or any of its Affiliates.

 

(xxiv)
“Employee Plan” means any
(i) “employee benefit plan” as defined in Section 3(3) of ERISA, (ii) compensation, employment, consulting, Independent
Contractor, severance, termination protection, change in control, transaction bonus, retention or similar plan, agreement, arrangement,
program or policy or (iii) other plan, agreement, arrangement, program or policy providing for compensation, bonuses, profit-sharing,
equity or equity-based compensation or other forms of incentive or deferred compensation, vacation benefits, insurance (including
any self-insured arrangement), medical, dental, vision, prescription or fringe benefits, life insurance, relocation or expatriate
benefits, perquisites, disability or sick leave benefits, employee assistance program, supplemental unemployment benefits or post-employment
or retirement benefits (including compensation, pension, health, medical or insurance benefits), in each case (x) whether or not
written, (y) that is sponsored, maintained, administered, contributed to, required to be contributed to or entered into by Issuer
or any of its ERISA Affiliates for the current or future benefit of any current or former Service Provider or (z) for which Issuer
or any of its Subsidiaries or their respective ERISA Affiliates have or could have any current or future Liability.

 

(xxv)
“Employees” means all employees
of Issuer.

 

(xxvi)
“Employment Agreement”
means each management, employment, severance, consulting, bonus, retention, relocation, repatriation, expatriation, change
in control or similar agreement or offer letter between Issuer or a Subsidiary of Issuer and any current or former Employee.

 

    	 	53	 

    	 

    

 

(xxvii)
“ERISA” means the Employee
Retirement Income Security Act of 1974, as amended.

 

(xxviii)
“ERISA Affiliate” of any entity
means any other entity that, together with such first entity, is (or at any relevant time was or will be) treated as a single
employer under Section 414 of the Code.

 

(xxix)
“ESPP” means Issuer’s
2015 Employee Stock Purchase Plan.

 

(xxx)
“Exploit” (and related terms
such as “Exploitation” or “Exploited”) means to manufacture, have manufactured, produce,
fill, finish, package, label, import, export, use, have used, sell, offer for sale, have sold, research, develop (including seeking,
obtaining or maintaining Product Registrations), test, prescribe, administer, commercialize, register, store, hold or keep (whether
for disposal or otherwise), transport, ship, distribute, promote, market, price, supply or otherwise dispose of, or to license
or otherwise permit any Person to conduct any of the foregoing.

 

(xxxi)
“FDA” means
the U.S. Food and Drug Administration and any successor agency thereto.

 

(xxxii)
“FDCA” means
the U.S. Federal Food, Drug, and Cosmetic Act, together with any rule or regulation lawfully issued or promulgated by the FDA.

 

(xxxiii)
“FDA Regulated Product”
shall mean and includes any of Issuer’s approved products, product candidates, or any components thereof that are subject
to the FDCA and other Laws administered by the FDA.

 

(xxxiv)
“Final Offering Period” means
the offering or purchase period under the ESPP that is in effect on the date hereof.

 

(xxxv)
“GAAP” means generally accepted
accounting principles as employed in the U.S., applied consistently with prior periods and with Issuer’s historical practices
and methods, provided that standards of materiality applicable to Issuer shall be employed without regard to standards
of materiality used by Issuer in prior periods, and provided further, that Issuer’s historical practices and methods
shall not be consistently applied to the extent they are not in accordance with GAAP.

 

    	 	54	 

    	 

    

 

(xxxvi)
“Governmental Authority” means
any: (A) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature;
(B) federal, state, local, municipal, foreign or other government; (C) governmental authority of any nature (including any governmental
division, department, agency, commission, instrumentality, official, ministry, fund, foundation, center, organization, unit, body
or entity and any court or other tribunal); or (D) entity to whom a Governmental Authority has assigned or delegated any authority
or oversight responsibilities, including any notified body licensed, authorized or approved to assess and certify the conformity
of a medical device with the requirements of the EU Medical Devices Directive 93/42/EEC, the EU Medical Devices Regulation (EU)
2017/745, and applicable harmonized standards.

 

(xxxvii)
“Health Care Laws” means (i)
the FDCA and the regulations promulgated thereunder, (ii) the PHSA, and the regulations promulgated thereunder, (iii) all federal
and state fraud and abuse laws, including the Federal Anti-Kickback Statute (42 U.S.C. § 1320a-7b(b)), the civil False Claims
Act (31 U.S.C. § 3729 et seq.), the administrative False Claims Law (42 U.S.C. § 1320a-7b(a)), the Anti-Inducement Law
(42 U.S.C. § 1320a-7a(a)(5)), the exclusion laws (42 U.S.C. § 1320a-7), and the regulations promulgated pursuant to
such statutes, (iv) HIPAA, the regulations promulgated thereunder and comparable state laws, (v) the Controlled Substances Act
(21 U.S.C. § 801 et seq.), (vi) Titles XVIII (42 U.S.C. § 1395 et seq.) and XIX (42 U.S.C. § 1396 et seq.) of the
Social Security Act and the regulations promulgated thereunder, (vii) FDA’s regulations in Title 21 of the Code of Federal
Regulations, (viii) the Public Health Regulations in Title 42 of the Code of Federal Regulations, (ix) all Applicable Laws administered
by the FDA and other Governmental Authorities, including those governing or relating to good laboratory practices, good clinical
practices, recordkeeping, the manufacture, import, export, testing, development, approval, processing, reporting, packaging, labeling,
storage, marketing, sale, offer for sale, distribution and use of any compounds or products manufactured by or on behalf of Issuer,
including adverse drug reaction reporting requirements, informed Consent requirements and Review Boards (as those terms are defined
by the FDA), all applicable requirements related to clinical trials and the protection of human subjects, applicable regulations
at 21 C.F.R. Parts 50, 54, 56, 58, 312, 314, 600, 601 and the FDA’s current Good Manufacturing Practice Regulations at 21
C.F.R. Parts 210 and 211 for products that are or will be sold in the U.S., and the respective counterparts thereof promulgated
by Governmental Authorities in countries outside the U.S. and (x) any and all other applicable federal, state, local, foreign,
supranational health care laws, rules and regulations, ordinances, and Orders, each of clauses (i) through (x) as
may be amended from time to time.

 

(xxxviii)
“HIPAA” means, collectively,
the Health Insurance Portability and Accountability Act of 1996, Public Law 104-191, as amended by the Health Information Technology
for Economic and Clinical Health Act, enacted as Title XIII of the American Recovery and Reinvestment Act of 2009, Public Law
111-5, and their implementing regulations, including but not limited to, the Standards for Privacy of Individually Identifiable
Health Information at 45 C.F.R. Part 160 and Part 164, Subparts A and E, the Security Standards for the Protection of Electronic
Protected Health Information at 45 C.F.R. Part 160 and Part 164, Subparts A and C, and the Notification of Breach of Unsecured
Protected Health Information requirements at 45 C.F.R. Part 160 and Part 164, Subpart D.

 

    	 	55	 

    	 

    

 

(xxxix)
“Independent Contractor” means
any independent contractor, director, consultant or other non-employee Service Provider of Issuer or a Subsidiary of Issuer (including
any temporary or leased employee retained through a staffing or leasing agency that is not an employee of Issuer or a Subsidiary
of Issuer).

 

(xl)
“Information” means information
or documentation owned by Issuer which information may include, but is not necessarily limited to, financial data, business plans,
personnel information (to the extent permitted under Applicable Law), drawings, samples, devices, trade secrets, technical information,
results of research and other data in either oral or written form; provided, however, that “Information”
does not include information which (A) is or becomes generally available to the public other than as a result of a disclosure
by Purchaser or its representatives in violation of the Confidentiality Agreement, (B) was lawfully within Purchaser’s possession
prior to its being furnished to Purchaser by or on behalf of Issuer, provided further that the source of such information
was not known by Purchaser to be bound by a confidentiality agreement with or other contractual, legal or fiduciary obligation
of confidentiality to Issuer or any other Person with respect to such information, or (C) is developed by Purchaser after initial
disclosure by Issuer.

 

(xli)
“Intellectual Property Rights”
means any and all (i) trademarks, service marks, trade names, business marks, brand names, certification marks, trade dress, logos,
corporate names, trade styles, domain names and other indications of origin, the goodwill associated with the foregoing and registrations
in any jurisdiction of, and applications in any jurisdiction to register, the foregoing, including any extension, modification
or renewal of any such registration or application (“Trademarks”), (ii) national and multinational statutory
invention registrations, patents and patent applications issued or applied for in any jurisdiction including pursuant to international
treaties, including all certificates of invention, provisionals, nonprovisionals, applications made pursuant to the Patent Cooperation
Treaty, substitutions, divisionals, continuations, continuations-in-part, requests for continued examination, reissues, renewals,
extensions, supplementary protection certificates, reexaminations, patents of addition, utility models, inventors’ certificates
and the equivalents of any of the foregoing in any jurisdiction, all inventions disclosed in each such registration, patent or
patent application and any rights resulting from oppositions, inter partes review, post-grant review or other post-grant
proceedings in any jurisdiction (“Patents”), (iii) all rights and priorities afforded under any Applicable
Law with respect to any of the foregoing Trademarks and Patents, including without limitation earlier-filed applications from
which benefit or priority rights are derived, and all extensions, restorations, and renewals of any of the foregoing, (iv) Trade
Secrets, information, data, specifications, processes, methods, knowledge, experience, formulae, skills, techniques, schematics,
drawings, blue prints, utility models, designs, technology, software, inventions (whether or not patentable), discoveries, ideas
and improvements, including formulation, composition, device and manufacturing information, processes and synthetic pathways,
assays, engineering and other manuals and drawings, standard operating procedures, flow diagrams, regulatory, chemical, pharmacological,
toxicological, pharmaceutical, physical and analytical, safety, quality assurance, quality control and clinical data, technical
information, research records and similar data and information, (v) writings and other works (including literary, pictorial and
graphic works), whether copyrightable or not, in any jurisdiction (domestic and foreign), and any and all copyright rights, whether
registered or not, and registrations or applications for registration of copyrights in any jurisdiction (domestic and foreign),
and any renewals or extensions thereof (“Copyrights”), (vi) moral rights, data and database rights, design
rights, industrial property rights, publicity rights and privacy rights, (vii) all forms and types of computer software (including
source code, object code, firmware, development tools, files, records and data, and all documentation related to any of the foregoing),
(viii) any other intellectual property or proprietary rights, (ix) all rights under or relating to any of the foregoing granted
under any Contract and (x) rights to bring an action for infringement, dilution, misappropriation or other impairment or violation
of rights and to receive damages, proceeds or any other legal or equitable protections and remedies with respect to any of the
foregoing.

 

    	 	56	 

    	 

    

 

(xlii)
“IRS” means the Internal Revenue
Service of the United States of America.

 

(xliii)
“Issuer 10-K” means Issuer’s
annual report on Form 10-K for the fiscal year ended July 31, 2018.

 

(xliv)
“Issuer 10-Q” means Issuer’s
quarterly report on Form 10-Q for the fiscal quarter ended April 30, 2019.

 

(xlv)
“Issuer Balance Sheet” means
the audited consolidated balance sheet of Issuer as of the Issuer Balance Sheet Date set forth in the Issuer 10-K.

 

(xlvi)
“Issuer Balance Sheet Date”
means July 31, 2018.

 

(xlvii)
“Issuer Disclosure Schedule”
means the disclosure schedule dated the date hereof related to this Agreement that has been provided by Issuer to Purchaser.

 

(xlviii)
“Issuer Intellectual Property Rights”
means all the Owned Intellectual Property Rights and Licensed Intellectual Property Rights.

 

(xlix)
“Issuer Interim Balance Sheet”
means the unaudited consolidated balance sheet of Issuer as of April 30, 2019 as set forth in the Issuer 10-Q.

 

    	 	57	 

    	 

    

 

(l)
“Issuer Material Adverse Effect”
means (i) any event, circumstance, change, occurrence, development, condition or effect that has or would be expected to result
in a material adverse change in, or material adverse effect on, (A) the condition (financial or otherwise), business, assets,
Liabilities or results of operations of Issuer and its Subsidiaries, taken as a whole, excluding any such effect to the extent
resulting from (1) changes in general economic conditions in the U.S., (2) changes or conditions generally affecting the industry
in which Issuer and its Subsidiaries operate, (3) acts of war, sabotage or terrorism involving the U.S. or (4) the announcement
of the transactions contemplated by this Agreement except, in the case of clauses (1), (2) and (3), to the extent not having
a disproportionate effect on Issuer and its Subsidiaries, taken as a whole, relative to other participants in the industry in
which Issuer and its Subsidiaries operate, (B) Issuer’s ability to consummate the transactions contemplated by this Agreement
on or before the End Time or (ii) any material adverse determination by, or a material delay of a determination by, the FDA or
any other Governmental Authority or any Review Board, or any indication that any such entity or Review Board will make any material
adverse determination or materially delay making any determination, with respect to the safety or efficacy as shown in pre-clinical
or clinical testing, approvability, labeling, contents of package insert, prescribing information, risk management profile, pre-approval
inspection matters or requirements relating to the results of any pre-clinical or clinical testing, post-market requirements or
commitments, in each case, related to any of the Products.

 

(li)
“Issuer Restricted Shares”
means each restricted Share granted or issued pursuant to any Employee Plan that is outstanding immediately prior to the Closing.

 

(lii)
“Issuer RSUs” means each restricted
stock unit granted or issued pursuant to any Employee Plan that is outstanding immediately prior to the Closing.

 

(liii)
“Issuer Stock Awards” means,
collectively, the Issuer Restricted Shares, Issuer RSUs, Issuer Stock Options and Issuer Warrants.

 

(liv)
“Issuer Stock Options” means
each option (or portion thereof) to acquire Shares that is outstanding immediately prior to the Closing.

 

(lv)
“Issuer Warrants” means each
warrant (or portion thereof) to acquire Shares granted or issued that is outstanding immediately prior to the Closing.

 

(lvi)
“IT Assets” means computers,
computer software, firmware, middleware, servers, workstations, routers, hubs, switches, data communications lines and all other
information technology equipment, and all associated documentation owned by Issuer or any of its Subsidiaries or licensed or leased
by Issuer or any of its Subsidiaries.

 

(lvii)
“Knowledge” means, with respect
to Issuer, the actual knowledge of each individual listed in Section 11.1(b) of the Issuer Disclosure Schedule, together with
the knowledge such persons would or should reasonably be expected to have, in each case, after making a reasonable inquiry of
the individuals who report to them regarding the matters in question.

 

    	 	58	 

    	 

    

 

(lviii)
“Law” means any code, directive,
law (including common law), ordinance, regulation, reporting or licensing requirement, rule, or statute, including those promulgated,
interpreted, or enforced by any Governmental Authority.

 

(lix)
“Liability” means any direct
or indirect, primary or secondary, liability, indebtedness, obligation, penalty, cost or expense (including costs of investigation,
collection and defense), claim, deficiency, guaranty or endorsement of or by any Person (other than endorsements of notes, bills,
checks, and drafts presented for collection or deposit in the Ordinary Course of Business) of any type, secured or unsecured whether
accrued, absolute or contingent, direct or indirect, liquidated or unliquidated, matured or unmatured, known or unknown or otherwise.

 

(lx)
“License” means any license,
franchise, notice, permit, easement, right, certificate, authorization, or approval to which any Person is a party or that is
or may be binding on any Person or its securities, property or business.

 

(lxi)
“Licensed Intellectual Property Rights”
means all Intellectual Property Rights owned by a Third Party and licensed or sublicensed to Issuer or any of its Subsidiaries
or for which Issuer or any of its Subsidiaries has obtained a covenant not to be sued.

 

(lxii)
“Lien” means, with respect
to any property or asset, any mortgage, lien, license, pledge, charge, security interest, encumbrance or other adverse claim of
any kind in respect of such property or asset. For purposes of this Agreement, a Person shall be deemed to own, subject to a Lien,
any property or asset that it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement,
capital lease or other title retention agreement relating to such property or asset.

 

(lxiii)
“Litigation” means any suit,
action, administrative or other audit (other than regular audits of financial statements by outside auditors), proceeding, arbitration,
cause of action, charge, claim, complaint, compliance review, criminal prosecution, grievance inquiry, hearing, inspection, investigation
(governmental or otherwise), before any Governmental Authority.

 

(lxiv)
“Nasdaq” means the Nasdaq
Stock Market LLC.

 

(lxv)
“NRS” means the Nevada Revised
Statutes.

 

(lxvi)
“Order” means any decree,
injunction, judgment, order, ruling, writ, quasi-judicial decision or award or administrative decision or award of any federal,
state, local, foreign or other court, arbitrator, mediator, tribunal, administrative agency or Governmental Authority to which
any Person is a party or that is or may be binding on any Person or its securities, assets or business.

 

    	 	59	 

    	 

    

 

(lxvii)
“Ordinary Course of Business”
means the following: an action taken by a Person will be deemed to have been taken in the Ordinary Course of Business only if
that action: (A) is consistent in nature, scope and magnitude with the past practices of such Person and is taken in the ordinary
course of the normal, day-to-day operations of such Person; and (B) does not require authorization by the shareholders of such
Person (or by any Person or group of Persons exercising similar authority).

 

(lxviii)
“Owned Intellectual Property Rights”
means all Intellectual Property Rights owned or purported to be owned (solely or jointly with others) by Issuer or any of its
Subsidiaries.

 

(lxix)
“Party” means any party hereto
and “Parties” means all parties hereto.

 

(lxx)
“Permit” means each grant,
license, franchise, permit, easement, variance, exception, exemption, waiver, Consent, certificate, registration, accreditation,
approval, authorization, concession, decree, confirmation, qualification or other similar authorization of any Governmental Authority.

 

(lxxi)
“Permitted Liens” means (i)
Liens for Taxes not yet due or delinquent or the validity or amount of which is being contested in good faith by appropriate proceedings
and for which adequate reserves have been established in accordance with GAAP, provided no notice of any such Lien has
been filed or recorded under the Code and the Treasury Regulations thereunder, (ii) materialmen’s, mechanics’, carriers’,
workers’, warehousemen’s, repairers’ and similar Liens arising in the Ordinary Course of Business, securing
obligations as to which there is no default and which are not yet due and payable, or the validity or amount of which is being
contested in good faith by appropriate proceedings which have the effect of preventing the forfeiture or sale of the property
subject thereto and for which adequate reserves have been established in accordance with GAAP, (iii) Liens to secure payment of
workers’ compensation, unemployment insurance, social security or other social security legislation (other than Liens imposed
by ERISA), and (iv) with respect to real property, any nonmonetary Lien or other requirement or restriction arising under any
zoning, entitlement, building, conservation restriction and other land use and environmental Applicable Law, but only if the same
are not being violated by the current use of such real property or the operation of the business of Issuer and its Subsidiaries.

 

(lxxii)
“Person” means an individual,
corporation, partnership, limited liability company, association, trust or other entity or organization, including a government
or political subdivision or a Governmental Authority.

 

    	 	60	 

    	 

    

 

(lxxiii)
“Personal Information” means
any information in the possession or control of Issuer that, alone or in combination with other information in the possession
or control of Issuer, allows the identification of an individual, including name, street address, telephone number, e-mail address,
photograph, social security number, driver’s license number, passport number or customer or account number, IP address,
and any persistent device identifier, or any information that is otherwise considered personal information, personal data, protected
health information, or personally identifiable information under Applicable Law.

 

(lxxiv)
“PHSA” means
the U.S. Public Health Service Act, as amended, together with any rule or regulation lawfully issued or promulgated thereunder.

 

(lxxv)
“Privacy and Information Security Requirements”
means (a) all Applicable Laws relating to the Processing of Personal Information, which may include, without limitation, HIPAA
and any Applicable Laws relating to data security, breach notification, direct marketing, e-mails, text messages, telemarketing,
online behavioral advertising, or data localization, (b) all provisions of Contracts to which Issuer or any Issuer Subsidiary
is a party or is otherwise bound that by their express terms govern the Processing of Personal Information, including without
limitation obligations of the Payment Card Industry - Data Security Standards that are applicable to Issuer that govern the Processing
of Personal Information; and (c) policies and notices of Issuer or any Issuer Subsidiary relating to the Processing of Personal
Information.

 

(lxxvi)
“Process” or “Processing”
means the collection, use, storage, processing, recording, distribution, transfer, import, export, protection (including security
measures), disposal or disclosure or other activity regarding data (whether electronically or in any other form or medium).

 

(lxxvii)
“Product” means
all “drugs” and “devices” (as those terms are defined in the FDCA) and all “biological products”
(as that term is defined in the PHSA), that have been or are being Exploited by or on behalf of Issuer.

 

(lxxviii)
“Product Registration” means
any investigational new drug application (IND), New Drug Application (NDA), abbreviated New Drug Application (ANDA), Biologics
License Application (BLA), investigational device exemption (IDE), Premarket Notification (510k), Premarket Application
(PMA), De Novo application, similar regulatory application or registration necessary to Exploit a Product in the relevant territory,
including any supplements and amendments thereto.

 

(lxxix)
“Regulation S-K” means Regulation
S-K promulgated under the 1933 Act.

 

(lxxx)
“Regulation S-X” means Regulation
S-X promulgated under the 1934 Act.

 

(lxxxi)
“Review Board”
means all institutional review boards, privacy boards, data safety monitoring boards or ethics committees responsible for review,
oversight, and/or approval of any clinical trial involving any Product.

 

    	 	61	 

    	 

    

 

(lxxxii)
“Sarbanes-Oxley Act” means
the Sarbanes-Oxley Act of 2002.

 

(lxxxiii)
“SEC” means the U.S. Securities
and Exchange Commission.

 

(lxxxiv)
“Service Provider” means any
director, officer, employee or individual Independent Contractor of Issuer or any of its Subsidiaries (including any Employee).

 

(lxxxv)
“Subsidiary” means, with respect
to any Person, any other Person of which (i) such Person or any of its Subsidiaries is a general partner or holds a majority of
the voting interests of a partnership or (ii) securities or other ownership interests having ordinary voting power to elect a
majority of the board of directors or other Persons performing similar functions (or, if there are no such ownership interests
having ordinary voting power, 50% or more of the equity interests of which) are at any time directly or indirectly owned or controlled
by such Person.

 

(lxxxvi)
“Tax” means any federal, state,
county, local, or foreign tax, charge, fee, levy, impost, duty, tariff or other assessment or charges of whatever kind, including
taxes or other charges based upon, measured by, or otherwise related to income, diverted profits, minimum, base erosion anti-abuse
minimum, gross receipts, excise, employment, sales, use, transfer, recording, License, payroll, franchise, severance, documentary,
stamp, occupation, windfall profits, environmental, federal highway use, commercial rent, customs duty, capital stock, paid-up
capital, profits, withholding, U.S. Social Security, single business and unemployment, disability, real property, personal property,
escheatment, unclaimed property, registration, ad valorem, value added, goods and services, alternative or add-on minimum, estimated
taxes, including any interest, penalties, and additions imposed thereon or with respect thereto or as a result of a failure to
timely, correctly or completely file any Tax Return, and including Liability for the taxes of any other Person under Treasury
Regulations Section 1.1502-6 (or any similar provision of state, local, or foreign Law) as a transferee or successor, by contract,
or otherwise.

 

(lxxxvii)
“Tax Return” means any return
(including any informational return) report, statement, schedule, notice, form or other document or information filed with or
submitted to, or required to be filed with or submitted to any Taxing Authority, including any statements, schedules attachments
or amendments with respect thereto.

 

(lxxxviii)
“Tax Sharing Agreement” means
any agreement or arrangement (whether or not written), entered into prior to the Closing, binding Issuer or any of its Subsidiaries
and providing for the allocation, apportionment, sharing or assignment of any Tax Liability or benefit, or the transfer or assignment
of income, revenues, receipts or gains for the purpose of determining any Person’s Tax Liability.

 

    	 	62	 

    	 

    

 

(lxxxix)
“Taxing Authority” means the
IRS and any other federal, state, local or foreign Governmental Authority responsible for the assessment, collection or administration
of any Tax.

 

(xc)
“Third Party” means any Person, including as defined in Section 13(d) of the 1934 Act, other than a Party.

 

(xci)
“Trade Secrets” means trade secrets and all confidential know-how and confidential information and rights in
any jurisdiction (domestic and foreign), including confidential recipes, ideas, formulae, formulations, compositions, reactions,
pathways, syntheses, tools, products, mechanisms, functions, components, specifications, techniques, systems, data, results, methods,
processes, manufacturing, schematics, prototypes, models, designs, customer lists and supplier lists.

 

(xciii)
“U.S.” means the United States of America, its territories and possessions, including Puerto Rico.

 

11.2
Fees and Expenses.

 

Except
as otherwise specifically provided elsewhere in this Agreement, regardless of whether the transactions contemplated by this Agreement
are consummated, Issuer and Purchaser each shall pay their respective fees and expenses in connection with the transactions contemplated
by this Agreement, except that Issuer shall reimburse the reasonable legal fees and expenses incurred by Purchaser in an amount
not to exceed $300,000 in the aggregate.

 

    	 	63	 

    	 

    

 

11.3
Notices.

 

All
notices, consents, requests, claims, demands and other communications under this Agreement shall be in writing (which shall include
communications by e-mail) and shall be delivered and deemed given if: (a) in person (on the Business Day of such delivery as evidenced
by the receipt of the personal delivery service), (b) by certified or registered mail return receipt requested (one Business Day
after being mailed), or (c) by e-mail (on the date of transmission):

 

If
to Issuer:

 

OncoSec
Medical Incorporated

24
North Main Street

Pennington,
NJ 08534-2218

 

Attention:
Daniel J. O’Connor

Telephone:
(858) 230-8770

Email:
docconor@oncosec.com

 

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

 

	 	Alston
    & Bird LLP
	 	90
    Park Avenue
	 	New
    York, NY 10016
	 	Attention:
    	Matthew
    W. Mamak
	 		James H. Sullivan
	 	Telephone:	(212)
    210-1256
	 	 	(212)
    210-9522
	 	E-mail:
    	matthew.mamak@alston.com
	 	 	james.sullivan@alston.com

 

If
to Purchaser:

 

	 	Grand
    Decade Developments Limited
	 	Unit
    3302, The Center, 99 Queen’s Road Central
	 	Hong
    Kong
	 	Attn:	Zhou
    Chao
	 	Telephone:	(852)
    2866-3718
	 	Email:	zhouchao@chinagrandinc.com

 

    	 	64	 

    	 

    

 

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

 

	 	Covington
    & Burling LLP
	 	The
    New York Times Building
	 	620
    Eighth Avenue
	 	New
    York, New York 10018
	 	Attention:
    	Jack
    S. Bodner
	 	 	Stephen
    A. Infante
	 	Facsimile
    No.:	646-441-9079
	 	 	646-441-9039
	 	E-mail:
    	jbodner@cov.com
	 	 	sinfante@cov.com

 

or
to such other address as the Parties may designate in writing to the other in accordance with this Section 11.3. Any Party
may change the address to which notices are to be sent by giving written notice of such change of address to the other parties
in the manner above provided for giving notice.

 

11.4
Assignment.

 

Any
assignment under this Agreement by Issuer shall be void, invalid and of no effect without the written consent of Purchaser, except
as otherwise provided in this Agreement, including that Purchaser may assign its rights under this Agreement in whole or in part
to any Person in accordance with Section 1.1(c) and as so long as the assignee(s) agree to be bound in writing by the terms
and conditions of this Agreement. Notwithstanding anything contained herein to the contrary, Purchaser may assign its rights to
an Affiliate at any time and from time to time without the consent of Issuer. For the avoidance of doubt, nothing herein shall
prohibit the sale or assignment of the Purchased Shares to any person, subject to Section 5.4, in compliance with applicable
securities laws.

 

11.5
No Benefit to Others.

 

The
representations, warranties, covenants, and agreements contained in this Agreement are for the sole benefit of the Parties hereto
and their respective heirs, executors, administrators, legal representatives, successors and assigns, and they shall not be construed
as conferring any Third Party beneficiary or any other rights on any other Persons.

 

    	 	65	 

    	 

    

 

11.6
Headings and Gender; Construction; Interpretation.

 

(a)
The table of contents and the captions and section
headings contained in this Agreement are for convenience of reference only, do not form a part of this Agreement and shall not
affect in any way the meaning or interpretation of this Agreement. All references in this Agreement to “Section” or
“Article” shall be deemed to be references to a Section or Article of this Agreement unless indicated otherwise.

 

(b)
Words used herein, regardless of the number and
gender specifically used, shall be deemed and construed to include any other number, singular or plural, and any other gender,
masculine, feminine, or neuter, as the context requires. Whenever the words “include,” “includes” or “including”
are used in this Agreement, they shall be deemed followed by the words “without limitation.”

 

(c)
Neither this Agreement nor any uncertainty or
ambiguity herein shall be construed or resolved against Purchaser or Issuer, whether under any rule of construction or
otherwise. No Party to this Agreement shall be considered the draftsman. On the contrary, this Agreement has been reviewed, negotiated
and accepted by all Parties and their attorneys and shall be construed and interpreted according to the ordinary meaning of the
words so as fairly to accomplish the purposes and intentions of all the Parties.

 

11.7
Counterparts.

 

This
Agreement may be executed in two (2) or more counterparts, all of which shall be considered one and the same Agreement, and shall
become effective when one counterpart has been signed by each Party and delivered to the other Party hereto.

 

11.8
Integration of Agreement.

 

(a)
This Agreement and the exhibits and the other
agreements contemplated by this Agreement, including the Confidentiality Agreement, constitute the entire agreement between the
Parties relating to the subject matter hereof and supersede all prior agreements, oral and written, between the Parties with respect
to the subject matter hereof, including that certain Confidential Non-binding Indicative Term Sheet between the Parties dated
September 5, 2019.

 

(b)
Neither this Agreement, nor any provision hereof,
may be changed, waived, discharged, supplemented, or terminated orally, but only by an agreement in writing signed by the Party
against which the enforcement of such change, waiver, discharge or termination is sought. The failure or delay of any Party at
any time or times to require performance of any provision of this Agreement shall in no manner affect its right to enforce that
provision. No single or partial waiver by any Party of any condition of this Agreement, or the breach of any term of this Agreement
or the inaccuracy or warranty of this Agreement, whether by conduct or otherwise, in any one or more instances shall be construed
or deemed to be a further or continuing waiver of any such condition, breach or inaccuracy or a waiver of any other condition,
breach or inaccuracy.

 

    	 	66	 

    	 

    

 

11.9
Amendments.

 

Any
provision of this Agreement may be amended prior to the Closing if, but only if, such amendment is in writing and is signed by
each Party.

 

11.10
Waiver.

 

The
rights and remedies of the Parties to this Agreement are cumulative and not alternative. Neither the failure nor any delay by
any Party in exercising any right, power, or privilege under this Agreement will operate as a waiver of such right, power, or
privilege, and no single or partial exercise of any such right, power or privilege will preclude any other or further exercise
of such right, power or privilege or the exercise of any other right, power, privilege. To the maximum extent permitted by Applicable
Law, (a) no claim or right arising out of this Agreement can be discharged by one Party, in whole or in part, by a waiver or renunciation
of the claim or right unless in writing signed by the other Party; (b) no waiver that may be given by a Party will be applicable
except in the specific instance for which it is given; and (c) no notice to or demand on one Party will be deemed to be a waiver
of any obligation of such Party or of the right of the Party giving such notice or demand to take further action without notice
or demand as provided in this Agreement.

 

11.11
Time of Essence.

 

Time
is of the essence in this Agreement.

 

11.12
Governing Law.

 

Except
to the extent that mandatory principles of Applicable Law require the application of the NRS, this Agreement shall be governed
by and construed in accordance with the laws of the State of New York, without giving effect to any choice or conflict of law
provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of laws of any
jurisdiction other than those of the State of New York.

 

    	 	67	 

    	 

    

 

11.13
Jurisdiction.

 

The
Parties agree that any Action seeking to enforce any provision of, or based on any matter arising out of or in connection with,
this Agreement or the transactions contemplated hereby (whether brought by any party or any of its Affiliates or against any party
or any of its Affiliates) shall be brought in the state or federal courts, as applicable, in New York county in the State of New
York, and each of the Parties irrevocably consents to the exclusive jurisdiction of such courts (and of the appropriate appellate
courts therefrom) in any such Action and irrevocably waives, to the fullest extent permitted by Law, any objection that you may
now or hereafter have to the laying of the venue of any such Action in any such court or that any such Action brought in any such
court has been brought in an inconvenient forum. Process in any such Action may be served on any Party anywhere in the world,
whether within or without the jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of
process on such party as provided in Section 11.3 shall be deemed effective service of process on such party.

 

11.14
Waiver of Jury Trial.

 

EACH
OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

11.15
Partial Invalidity.

 

Whenever
possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under Applicable Law,
but in case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal,
or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions of this
Agreement, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision or provisions had never
been contained herein unless the deletion of such provision or provisions would result in such a material change as to cause completion
of the transactions contemplated hereby to be unreasonable. To the extent the deemed deletion of the invalid, illegal or unenforceable
provision or provisions is reasonably likely to have a material adverse effect on the ability of the Parties to consummate the
transactions contemplated by this Agreement, the Parties shall endeavor in good faith to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as practicable to that of the invalid, illegal or
unenforceable provisions.

 

11.16
Survival.

 

The
representations and warranties of each party in the Agreement shall survive any investigation made by any Party and the closing
of the transactions contemplated hereby and any termination of this Agreement subsequent to the Closing Date. The covenants and
agreements of each party made herein shall survive in accordance with their terms.

 

11.17
Specific Enforcement.

 

Each
party hereto acknowledges and agrees that the other party would be irreparably damaged if the provisions of this Agreement are
not performed in accordance with their terms and that any breach of this Agreement and the non-consummation of the transactions
contemplated hereby by either party could not be adequately compensated in all cases by monetary damages alone. Accordingly, in
addition to any remedy to which such other party may be entitled under Section 11.13, provisional measures and injunctive
relief necessary to protect the possibility of each party to seek specific performance from the other from the tribunal referred
to in Section 11.13 can be sought from any court of competent jurisdiction. Each of the parties hereto (i) agrees that
it shall not oppose the granting of any such relief and (ii) hereby irrevocably waives any requirement for the security or posting
of any bond in connection with any such relief (it is understood that clause (i) of this sentence is not intended to, and
shall not, preclude any party hereto from litigating on the merits the substantive claim to which such remedy relates).

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	 	68	 

    	 

    

 

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

 

	 	oncosec
    medical incorporated
	 	 	 
	 	By:	/s/
    Daniel J. O’Connor
	 	Name:	Daniel
    J. O’Connor
	 	Title:	Chief
    Executive Officer and President
	 	 	 
	 	GRAND
    DECADE DEVELOPMENTS LIMITED
	 	 	 
	 	By:	/s/
    Zhou Chao
	 	Name:	Zhou
    Chao
	 	Title:	Authorized
    Representative

 

[Signature
Page to GDD SPA]

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