Document:

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

 

FORM
OF COMMON STOCK PURCHASE WARRANT

 

POLARITYTE,
INC.

 

	Warrant
    Shares: [______]	Initial
    Issuance Date: [___], 2017

 

Warrant
No: [______]

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, [______] or its assigns
(the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after the Initial Issuance Date (the “Initial Exercise Date”) and on or prior
to the close of business on the two (2) year anniversary of the Initial Exercise Date (the “Termination Date”)
but not thereafter, to subscribe for and purchase from POLARITYTE, INC., a Delaware corporation (the “Company”),
up to [____] shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The
purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that
certain Subscription Agreement (the “Subscription Agreement”), dated [____] 2017, among the Company and
the purchasers signatory thereto.

 

Section
2. Exercise.

 

a)
Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or
after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or
agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder
appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto.
Within two (2) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise
Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a
United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable
Notice of Exercise. Notwithstanding anything herein to the contrary (although the Holder may surrender the Warrant to, and
receive a replacement Warrant from, the Company), the Holder shall not be required to physically surrender this Warrant to
the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised
in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within two (2) Trading Days
of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in
purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the
outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares
purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of
such purchases. The Company shall deliver any objection to any Notice of Exercise Form within one (1) Trading Day of delivery
of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the
provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant
Shares available for purchase hereunder at any given time may be less than the amount stated on the face
hereof.

 

    	 	 	 

    	 

    

 

b) Exercise
Price. The initial exercise price per share of the Common Stock under this Warrant shall be $30.00, (the
“Initial Exercise Price”) subject to adjustment hereunder (as adjusted, the “Exercise Price”),
payable, subject to Section 2(c) below, in immediately available funds.

 

c) Cashless
Exercise. If at any time after the six (6) month anniversary of the Initial Issuance Date there is no effective
registration statement registering, or no current prospectus available for the resale of the Warrant Shares by the Holder,
then this Warrant may also be exercised at the Holder’s election, in whole or in part, at such time by means of a
“cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the
quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A)
= the VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless
exercise,” as set forth in the applicable Notice of Exercise;

 

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

 

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

 

Notwithstanding
anything herein to the contrary, on the Termination Date, unless the Holder notifies the Company otherwise, if there is no effective
Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then
this Warrant shall be automatically exercised via cashless exercise pursuant to this Section 2(c).

 

d) Mechanics
of Exercise.

 

(a) Delivery
of Certificates Upon Exercise. Certificates for shares purchased hereunder shall be transmitted by the Company’s
transfer agent for its Common Stock (the “Transfer Agent”) to the Holder by crediting the account of the
Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian system
(“DWAC”) if the Company is then a participant in such system and either (A) there is an effective
registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B)
this Warrant is being exercised via cashless exercise and Rule 144 is available, and otherwise by physical delivery to the
address specified by the Holder in the Notice of Exercise by the date that is two (2) Trading Days after the latest of (A)
the delivery to the Company of the Notice of Exercise, (B) surrender of this Warrant (if required) and (C) payment of the
aggregate Exercise Price as set forth above (including by cashless exercise, if permitted) (such date, the “Warrant
Share Delivery Date”). The Warrant Shares shall be deemed to have been issued, and Holder or any other person so
designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the
date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by cashless exercise, if
permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior to the issuance of
such shares, having been paid. The Company understands that a delay in the delivery of the Warrant Shares after the Warrant
Share Delivery Date could result in economic loss to the Holder. As compensation to the Holder for such loss, the Company
agrees to pay (as liquidated damages and not as a penalty) to the Holder for late issuance of Warrant Shares upon exercise of
this Warrant the proportionate amount of $10 per Trading Day (increasing to $20 per Trading Day after the fifth
(5th) Trading Day) after the Warrant Share Delivery Date for each $1,000 of Exercise Price of Warrant Shares for
which this Warrant is exercised which are not timely delivered until such Warrant Shares are delivered or Holder rescinds
such exercise; provided, however, that notwithstanding anything to the contrary herein, the Holder shall not be entitled to
liquidated damages if the Holder is entitled to the Buy-In payments pursuant to Section 2(d)(iii) below. The Company shall
pay any payments incurred under this Section in immediately available funds upon demand. Furthermore, in addition to any
other remedies which may be available to the Holder, in the event that the Company fails for any reason to effect delivery of
the Warrant Shares by the Warrant Share Delivery Date, the Holder may revoke all or part of the relevant Warrant exercise by
delivery of a notice to such effect to the Company, whereupon the Company and the Holder shall each be restored to their
respective positions immediately prior to the exercise of the relevant portion of this Warrant, except that the liquidated
damages described above shall be payable through the date notice of revocation or rescission is given to the
Company.

 

    	 	2 	 

    	 

    

 

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

 

ii. Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or the certificates
representing the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the
right, at any time prior to issuance of such Warrant Shares, to rescind such exercise.

 

iii. Compensation
for Buy-In on Failure to Timely Deliver Certificates Upon Exercise. In addition to any other rights available to the
Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or the certificates
representing the Warrant Shares pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date
the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage
firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares
which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in
cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions,
if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant
Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at
which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either
reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in
which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would
have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the
Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted
exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under
clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall
provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of
the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other
remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing shares of
Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

    	 	3 	 

    	 

    

 

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

 

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

 

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

 

e) Holder’s
Exercise Limitations. (i)The Company shall not effect any exercise of this Warrant, and a Holder shall not have the
right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to
such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s
Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would
beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence,
the number of shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares
of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall
exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion
of this Warrant beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised
or nonconverted portion of any other securities of the Company (including, without limitation, any other Common Stock
Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially
owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for purposes of this Section
2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder
that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any
schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e)
applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder
together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of the
Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether
this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which
portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall
have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of
Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s
most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by
the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of
Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm
orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of
outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the
Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of outstanding shares
of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares
of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon
exercise of this Warrant. The Holder may decrease the Beneficial Ownership Limitation at any time and the Holder, upon not
less than 61 days’ prior notice to the Company, may increase the Beneficial Ownership Limitation provisions of this
Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the
Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this
Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any such increase will not be
effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph
shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to
correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership
Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such
limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

    	 	4 	 

    	 

    

 

Section
3. Certain Adjustments.

 

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

 

b) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants,
issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to
the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be
entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could
have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant
(without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no
such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant,
issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any
such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be
entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a
result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder
until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership
Limitation).

 

c) Pro
Rata Distributions. If the Company, at any time while this Warrant is outstanding, shall distribute to all holders of
Common Stock (and not to the Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights or
warrants to subscribe for or purchase any security other than the Common Stock (which shall be subject to Section 3(c)), then
in each such case the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior to the
record date fixed for determination of stockholders entitled to receive such distribution by a fraction of which the
denominator shall be the VWAP determined as of the record date mentioned above, and of which the numerator shall be such VWAP
on such record date less the then per share fair market value at such record date of the portion of such assets or evidence
of indebtedness so distributed applicable to one outstanding share of the Common Stock as determined by the Board of
Directors in good faith. In either case the adjustments shall be described in a statement provided to the Holder of the
portion of assets or evidences of indebtedness so distributed or such subscription rights applicable to one share of Common
Stock. Such adjustment shall be made whenever any such distribution is made and shall become effective immediately after the
record date mentioned above.

 

    	 	5 	 

    	 

    

 

d) Fundamental
Transaction. If, at any time while this Warrant is outstanding, the Company enters into a Fundamental Transaction then,
upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would
have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of
the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant) the number of shares of Common
Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional
consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a
holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental
Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such
exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration
based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental
Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner
reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are
given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be
given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such
Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is
not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under
this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written
agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without
unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in
exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form
and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor
Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this
Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with
an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the
relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital
stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value
of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory
in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall
succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this
Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor
Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under
this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the
Company herein.

 

e) Adjustment
of Exercise Price Upon Issuance of New Securities at Less Than the Exercise Price.

 

i.
In the event the Company shall, at any time after the Initial Issuance Date, while any Warrants are outstanding, other than
in connection an Excepted Issuance (as defined in the Series F Certificate of Designation), issue any Common Stock or Common
Stock Equivalents, for a consideration less than the Exercise Price that would be in effect at the time of such issuance (a
“Dilutive Issuance”), then, and thereafter successively upon each such Dilutive Issuance, the Exercise
Price for outstanding Warrants shall be reduced to 110% of such other lower price. For purposes of this adjustment, any
agreement entered for or the issuance of any security or debt instrument of the Company carrying the right to convert such
security or debt instrument into Common Stock or of any warrant, right or option to purchase Common Stock shall result in an
adjustment to the Exercise Price upon the issuance of the above-described security, debt instrument, warrant, right, or
option if such issuance is at a price lower than the Exercise Price in effect upon such issuance and again at any time upon
any actual, permitted, optional, or allowed issuances of shares of Common Stock upon any actual, permitted, optional, or
allowed exercise of such conversion or purchase rights if such issuance is at a price lower than the Exercise Price in effect
upon any actual, permitted, optional, or allowed such issuance. Common Stock issued or issuable by the Company for no
consideration will be deemed issuable or to have been issued for $0.001 per share of Common Stock.

 

    	 	6 	 

    	 

    

 

ii. Issuance
Restrictions. At any time after the occurrence of a Dilutive Issuance, if the Company has not obtained the approval of
its shareholders in accordance with NASDAQ Listing Rule 5635(d), then the Company may not issue upon exercise of the Warrants
a number of shares of Common Stock, which, when aggregated with any shares of Common Stock (i) underlying the Preferred
Shares issued pursuant to the Subscription Agreement and (ii) issuable upon prior exercise of any Warrants issued pursuant to
the Subscription Agreement, would exceed 19.99% shares of Common Stock, subject to adjustment for reverse and forward stock
splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of
the Subscription Agreement (such number of shares, the “Issuable Maximum”). The Holder and the holders of
the other Warrants issued pursuant to the Subscription Agreement shall be entitled to a portion of the Issuable Maximum equal
to the quotient obtained by dividing (x) the Holder’s original Aggregate Purchase Price by (y) the aggregate original
Aggregate Purchase Price of all holders pursuant to the Subscription Agreement. In addition, the Holder may allocate its
pro-rata portion of the Issuable Maximum among Warrants held by it in its sole discretion. Such portion shall be adjusted
upward ratably in the event a Holder no longer holds any Warrants and the amount of shares issued to such Holder pursuant to
its Warrants was less than such Holder’s pro-rata share of the Issuable Maximum. Notwithstanding anything herein to the
contrary, the Issuance Restrictions of this Section 4(f) shall be inapplicable to any Warrant Shares issued at the greater of
the book or market value pursuant to NASDAQ Rule 5635(d).

 

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

 

g) Notice
to Holder.

 

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company
shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting
adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such
adjustment.

 

    	 	7 	 

    	 

    

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on
the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock,
(C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or
purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall
be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is
a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange
whereby the Common Stock is converted into other securities, or (E) the Company shall authorize the voluntary or involuntary
dissolution, liquidation or winding up of the affairs of the Company, then, in each case, to the extent that such information
constitutes material non-public information (as determined in good faith by the Company) the Company shall shall deliver to
the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior
to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be
taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the
date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights
or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or
share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common
Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property
deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to
mail such notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action
required to be specified in such notice. To the extent that any notice provided hereunder constitutes, or contains,
material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such
notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice
except as may otherwise be expressly set forth herein.

 

Section
4. Transfer of Warrant.

 

a) Transferability.
Subject to compliance with any applicable securities laws and the provisions of the Subscription Agreement, this Warrant and
all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon
surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment
of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds
sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such
payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as
applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the
assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.
The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares
without having a new Warrant issued.

 

    	 	8 	 

    	 

    

 

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

 

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

 

Section
5. Certain Definitions. For purposes of this Warrant, the following terms shall have the following
meanings:

 

(a)
“Affiliate” shall mean as applied to any Person, means any other Person directly or indirectly
controlling, controlled by, or under common control with, that Person. For the purposes of this definition,
“control” (including, with correlative meanings, the terms “controlling”, “controlled by”
and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting
securities or by contract or otherwise. For purposes of this definition, a Person shall be deemed to be “controlled
by” a Person if such latter Person possesses, directly or indirectly, power to vote 10% or more of the securities
having ordinary voting power for the election of directors of such former Person

 

(b)
“Bloomberg” means Bloomberg Financial Markets.

 

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

 

(d)
“Closing Bid Price” and “Closing Sale Price” means,
for any security as of any date, the last closing bid price and last closing trade price, respectively, for such security on the
Principal Market, as reported by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does
not designate the closing bid price or the closing trade price, as the case may be, then the last bid price or the last trade
price, respectively, of such security prior to 4:00:00 p.m., New York time, as reported by Bloomberg, or, if the Principal Market
is not the principal securities exchange or trading market for such security, the last closing bid price or last trade price,
respectively, of such security on the principal securities exchange or trading market where such security is listed or traded
as reported by Bloomberg, or if the foregoing do not apply, the last closing bid price or last trade price, respectively, of such
security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg, or, if no
closing bid price or last trade price, respectively, is reported for such security by Bloomberg, the average of the bid prices,
or the ask prices, respectively, of any market makers for such security as reported in the “pink sheets” by the OTC
Markets Group LLC. If the Closing Bid Price or the Closing Sale Price cannot be calculated for a security on a particular date
on any of the foregoing bases, the Closing Bid Price or the Closing Sale Price, as the case may be, of such security on such date
shall be the fair market value as mutually determined by the Company and the Holder. All such determinations to be appropriately
adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation
period.

 

    	 	9 	 

    	 

    

 

(e)
“Common Stock” means (i) the Company’s shares of Common Stock, par value $0.001 per share, and (ii)
any share capital into which such Common Stock shall have been changed or any share capital resulting from a reclassification
of such Common Stock.

 

(f)
“Convertible Securities” shall mean any stock or other security (other than Options) that is at any time
and under any circumstances, directly or indirectly, convertible into, exercisable or exchangeable for, or which otherwise
entitles the holder thereof to acquire, any shares of Common Stock

 

(g)
“Eligible Market” means the Principal Market, The New York Stock Exchange, Inc., The NYSE MKT, The NASDAQ
Global Market, the OTCQX or the OTCQB (or any successor thereto).

 

(h)
“Fundamental Transaction” means that (i) the Company or any of its Subsidiaries shall, directly or
indirectly, in one or more related transactions, (1) consolidate or merge with or into (whether or not the Company or any of
its Subsidiaries is the surviving corporation) any other person, or (2) sell, lease, license, assign, transfer, convey or
otherwise dispose of all or substantially all of its respective properties or assets to any other person, or (3) allow any
other person to make a purchase, tender or exchange offer that is accepted by the holders of more than 50% of the outstanding
shares of Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the person or persons
making or party to, or associated or affiliated with the persons making or party to, such purchase, tender or exchange
offer), or (4) consummate a stock or share purchase agreement or other business combination (including, without limitation, a
reorganization, recapitalization, spin-off or scheme of arrangement) with any other person whereby such other person acquires
more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares of Voting Stock of the
Company held by the other person or other persons making or party to, or associated or affiliated with the other persons
making or party to, such stock or share purchase agreement or other business combination), or (5) (I)
reorganize, recapitalize or reclassify the Common Stock, (II) effect or consummate a stock combination, reverse stock split
or other similar transaction involving the Common Stock or (III) make any public announcement or disclosure with respect to
any stock combination, reverse stock split or other similar transaction involving the Common Stock (including, without
limitation, any public announcement or disclosure of (x) any potential, possible or actual stock combination, reverse stock
split or other similar transaction involving the Common Stock or (y) board or stockholder approval thereof, or the intention
of the Company to seek board or stockholder approval of any stock combination, reverse stock split or other similar
transaction involving the Common Stock), or (ii) any “person” or “group” (as these terms are used for
purposes of Sections 13(d) and 14(d) of the Exchange Act and the rules and regulations promulgated thereunder) is or shall
become the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50%
of the aggregate ordinary voting power represented by issued and outstanding Voting Stock of the Company.

 

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

 

(ji)
“Principal Market” means The NASDAQ Capital Market or the principal securities exchange or securities
market on which the Common Stock is then quoted or traded.

 

(k)
“Options” means any rights, warrants or options to subscribe for or purchase shares of Common Stock or
Convertible Securities

 

    	 	10 	 

    	 

    

 

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

 

(m)
“Subsidiary” means any subsidiary of the Company including any direct or indirect subsidiary of the
Company formed or acquired after the date hereof.

 

(n)
“Trading Day” means any day on which the Common Stock are traded on the Principal Market, or, if the
Principal Market is not the principal trading market for the Common Stock, then on the principal securities exchange or
securities market on which the Common Stock are then traded; provided that “Trading Day” shall not include
any day on which the Common Stock are scheduled to trade on such exchange or market for less than 4.5 hours or any day that
the Common Stock are suspended from trading during the final hour of trading on such exchange or market (or if such exchange
or market does not designate in advance the closing time of trading on such exchange or market, then during the hour ending
at 4:00:00 p.m., New York time).

 

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

 

(p)
“VWAP” means, for any security as of any date, the dollar volume-weighted average price for such security
on the Principal Market (or, if the Principal Market is not the principal trading market for such security, then on the
principal securities exchange or securities market on which such security is then traded) during the period beginning at
9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg through its “HP”
function set to “weighted average” or, if the foregoing does not apply, the dollar volume-weighted average price
of such security in the over-the-counter market on the electronic bulletin board for such security during the period
beginning at 9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg, or, if no
dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest
closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the
“pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC). If the VWAP cannot be calculated for such
security on such date on any of the foregoing bases, the VWAP of such security on such date shall be the fair market value as
mutually determined by the Company and such Holder. If the Company and such Holder are unable to agree upon the fair market
value of such security, then such dispute shall be resolved in accordance with the procedures in Section 23 of the Series F
Certificate of Designation. All such determinations shall be appropriately adjusted for any stock dividend, stock split,
stock combination or other similar transaction during such period

 

Section
6. Miscellaneous.

 

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

 

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

 

    	 	11 	 

    	 

    

 

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

 

d) Authorized
Shares.

 

(i)
The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock 125% of the maximum number of shares for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to
its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates
for the Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable
action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any
applicable law or regulation, or of any requirements of the Principal Market upon which the Common Stock may be listed. The
Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this
Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in
accordance herewith, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens and
charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring
contemporaneously with such issue).

 

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

 

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

 

    	 	12 	 

    	 

    

 

e) Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in
accordance with the provisions of the Subscription Agreement.

 

f) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, or unless
exercised in a cashless exercise when Rule 144 is available, and the Holder does not utilize cashless exercise, will have
restrictions upon resale imposed by state and federal securities laws.

 

g) Non-waiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall
operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any
other provision of this Warrant or the Subscription Agreement, if the Company willfully and knowingly fails to comply with
any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such
amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’
fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in
otherwise enforcing any of its rights, powers or remedies hereunder.

 

h) Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be
delivered in accordance with the notice provisions of the Subscription Agreement.

 

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

 

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

 

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

 

l) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the
Holders of not less than a 60% of the then outstanding Warrants issued pursuant to the Subscription Agreement which such
approval shall include the approval of the Lead Investor.

 

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

 

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

 

********************

 

(Signature
Page Follows)

 

    	 	13 	 

    	 

    

 

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

 

	 	POLARITYTE,
    INC.
	 	 	                          
	 	By:	
	 	Name:	 
	 	Title:	 

 

    	 	14 	 

    	 

    

 

NOTICE
OF EXERCISE

 

TO:
POLARITYTE, INC.

 

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

 

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

 

[  ]
in lawful money of the United States; or

 

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

 

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

_______________________________

 

(4)
After giving effect to this Notice of Exercise, the undersigned will not have exceeded the Beneficial Ownership
Limitation.

 

The
Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ___________________________________________________________________________

Signature
of Authorized Signatory of Investing Entity: _____________________________________________________

Name
of Authorized Signatory: _______________________________________________________________________

Title
of Authorized Signatory: ________________________________________________________________________

Date:
___________________________________________________________________________________________

 

    	 	 	 

    	 

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

POLARITYTE,
INC.

 

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

 

_______________________________________________
whose address is

 

_______________________________________________________________.

 

_______________________________________________________________

 

Dated:
______________, _______

 

	 	Holder’s
    Signature:	 	 
	 	 	 	 
	 	Holder’s
    Address:	 	 
	 	 	 	 
	 	 	 	 

 

Signature
Guaranteed: ___________________________________________

 

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

 

This
Subscription Agreement (this “Agreement”) is being delivered to the purchaser identified on the signature page
to this Agreement (the “Subscriber”) in connection with its investment in the securities of PolarityTE, Inc.,
a Delaware corporation (the “Company”). The Company is conducting a private placement (the “Offering”)
of a minimum of Fifteen Million Dollars ($15,000,000) (the “Minimum Offering Amount”) of units (the “Units”)
at a purchase price of $2,750 per Unit (the “Purchase Price”) with each Unit consisting of (i) one share (the
“Shares”) of Company’s Series F Convertible Preferred Stock, par value $0.001 per share, which is convertible
into one hundred (100) shares (the “Conversion Shares”) of common stock, par value $0.001 per share (the “Common
Stock”) , with such rights and designations as set forth in the form of Certificate of Designation of Preferences, Rights
and Limitations of Series F Convertible Preferred Stock, attached hereto as Exhibit A, (the “Series F Certificate of
Designation”) and (ii) a two (2) year warrant, in the form attached hereto as Exhibit B (the “Warrant”)
to purchase fifty (50%) percent of the shares of Common Stock purchased by the Subscriber (the “Warrant Shares”)
at an exercise price of $30.00 per share. For purposes of this Agreement, the term “Securities” shall refer
to the Shares, the Conversion Shares, the Warrants and the Warrant Shares.

 

IMPORTANT
INVESTOR NOTICES

 

NO
OFFERING LITERATURE OR ADVERTISEMENT IN ANY FORM MAY BE RELIED UPON IN THE OFFERING OF THESE SECURITIES EXCEPT FOR THIS SUBSCRIPTION
AGREEMENT AND ANY SUPPLEMENTS HERETO, AND NO PERSON HAS BEEN AUTHORIZED TO MAKE ANY REPRESENTATIONS EXCEPT THOSE CONTAINED HEREIN.

 

UNTIL
SUCH TIME AS A FORM 8-K IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION DISCLOSING THE TRANSACTIONS CONTEMPLATED HEREBY,
THIS AGREEMENT IS CONFIDENTIAL AND THE CONTENTS HEREOF MAY NOT BE REPRODUCED, DISTRIBUTED OR DIVULGED BY OR TO ANY PERSONS OTHER
THAN THE RECIPIENT OR ITS REPRESENTATIVE, ACCOUNTANT OR LEGAL COUNSEL, WITHOUT THE PRIOR WRITTEN CONSENT OF THE COMPANY. EACH
PERSON WHO ACCEPTS DELIVERY OF THIS AGREEMENT, ACKNOWLEDGES AND AGREES TO THE FOREGOING RESTRICTIONS.

 

THIS
AGREEMENT DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO ANY PERSON OR IN ANY JURISDICTION WHERE SUCH OFFER OR SOLICITATION
IS UNLAWFUL OR NOT AUTHORIZED. EACH PERSON WHO ACCEPTS DELIVERY OF THIS AGREEMENT AGREES TO RETURN IT AND ALL RELATED DOCUMENTS
IF SUCH PERSON DOES NOT PURCHASE ANY OF THE SECURITIES DESCRIBED HEREIN.

 

NEITHER
THE DELIVERY OF THIS AGREEMENT AT ANY TIME NOR ANY SALE OF SECURITIES HEREUNDER SHALL IMPLY THAT INFORMATION CONTAINED HEREIN
IS CORRECT AS OF ANY TIME SUBSEQUENT TO ITS DATE. THE COMPANY WILL EXTEND TO EACH PROSPECTIVE SUBSCRIBER (AND TO ITS REPRESENTATIVE,
ACCOUNTANT OR LEGAL COUNSEL, IF ANY) THE OPPORTUNITY, PRIOR TO ITS PURCHASE OF UNITS, TO ASK QUESTIONS OF AND RECEIVE ANSWERS
FROM THE COMPANY CONCERNING THE OFFERING AND TO OBTAIN ADDITIONAL INFORMATION, TO THE EXTENT THE COMPANY POSSESSES THE SAME OR
CAN ACQUIRE IT WITHOUT UNREASONABLE EFFORT OR EXPENSE, IN ORDER TO VERIFY THE ACCURACY OF THE INFORMATION SET FORTH HEREIN. ALL
SUCH ADDITIONAL INFORMATION SHALL ONLY BE PROVIDED IN WRITING AND IDENTIFIED AS SUCH BY THE COMPANY THROUGH ITS DULY AUTHORIZED
OFFICERS AND/OR DIRECTORS ALONE; NO ORAL INFORMATION OR INFORMATION PROVIDED BY ANY BROKER OR THIRD PARTY MAY BE RELIED UPON.

 

NO
REPRESENTATIONS, WARRANTIES OR ASSURANCES OF ANY KIND ARE MADE OR SHOULD BE INFERRED WITH RESPECT TO THE ECONOMIC RETURN, IF ANY,
THAT MAY ACCRUE TO AN INVESTOR IN THE COMPANY.

 

    	 	 	 1

    	 

    

 

FOR
RESIDENTS OF ALL STATES

 

THIS
OFFERING IS BEING MADE SOLELY TO “ACCREDITED INVESTORS,” AS SUCH TERM IS DEFINED IN RULE 501 OF REGULATION D UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OR THE SECURITIES LAWS OF ANY STATE AND WILL BE OFFERED AND SOLD IN RELIANCE UPON THE EXEMPTION FROM REGISTRATION AFFORDED
BY SECTION 4(a)(2) THEREUNDER AND REGULATION D (RULE 506) OF THE SECURITIES ACT AND CORRESPONDING PROVISIONS OF STATE SECURITIES
LAWS.

 

THE
SECURITIES OFFERED HEREBY ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT
AS PERMITTED UNDER THE SECURITIES ACT AND APPLICABLE STATE LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. SUBSCRIBERS
SHOULD BE AWARE THAT THEY WILL BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

 

THE
SECURITIES OFFERED HEREBY HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION, ANY STATE
SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE
MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THIS AGREEMENT. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

 

PROSPECTIVE
SUBSCRIBERS SHOULD NOT CONSTRUE THE CONTENTS OF THIS AGREEMENT AS INVESTMENT, LEGAL, BUSINESS, OR TAX ADVICE. EACH SUBSCRIBER
SHOULD CONTACT HIS, HER OR ITS OWN ADVISORS REGARDING THE APPROPRIATENESS OF THIS INVESTMENT AND THE TAX CONSEQUENCES THEREOF,
WHICH MAY DIFFER DEPENDING ON A SUBSCRIBER’S PARTICULAR FINANCIAL SITUATION. IN NO EVENT SHOULD THIS AGREEMENT BE DEEMED
OR CONSIDERED TO BE TAX ADVICE PROVIDED BY THE COMPANY.

 

FOR
FLORIDA RESIDENTS ONLY

 

THE
SECURITIES REFERRED TO HEREIN WILL BE SOLD TO, AND ACQUIRED BY, THE HOLDER IN A TRANSACTION EXEMPT UNDER § 517.061 OF THE
FLORIDA SECURITIES ACT. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER SAID ACT IN THE STATE OF FLORIDA. IN ADDITION, ALL FLORIDA
RESIDENTS SHALL HAVE THE PRIVILEGE OF VOIDING THE PURCHASE WITHIN THREE (3) DAYS AFTER THE FIRST TENDER OF CONSIDERATION IS MADE
BY SUCH SUBSCRIBER TO THE COMPANY, AN AGENT OF THE COMPANY, OR AN ESCROW AGENT OR WITHIN THREE DAYS AFTER THE AVAILABILITY OF
THAT PRIVILEGE IS COMMUNICATED TO SUCH SUBSCRIBER, WHICHEVER OCCURS LATER.

 

    	 	 	 2

    	 

    

 

1.
SUBSCRIPTION AND PURCHASE PRICE

 

(a)
Subscription. Subject to the conditions set forth in Section 2 hereof, the Subscriber hereby subscribes for and agrees
to purchase the number of Units indicated on the signature page hereof on the terms and conditions described herein.

 

(b)
Purchase of Units. The Subscriber understands and acknowledges that the purchase price to be remitted to the Company in
exchange for the Units shall be set at $2,750 per Unit, for an aggregate purchase price as set forth on the signature pate hereof
(the “Aggregate Purchase Price”). The Subscriber’s delivery of this Agreement to the Company shall be
accompanied by payment for the Units subscribed for hereunder, payable in United States Dollars, by wire transfer of immediately
available funds delivered to the Company in accordance with the wire instructions set forth on Exhibit C attached hereto. The
Subscriber understands and agrees that, subject to Section 2 and applicable laws, by executing this Agreement, it is entering
into a binding agreement.

 

2.
Acceptance, Offering Term and Closing Procedures

 

(a)
Acceptance. Subject to full, faithful and punctual performance and discharge by the Company of all of its duties, obligations
and responsibilities as set forth in this Agreement, the Series F Certificate of Designation, the Warrant , the Registration Rights
Agreement (as defined below), and any other agreement entered into between the Subscriber and the Company relating to this subscription
(collectively, the “Transaction Documents”) to be performed or discharged on or prior to the Closing in which
such Subscriber participates, the Subscriber shall be legally bound to purchase the Units pursuant to the terms and conditions
set forth in this Agreement. For the avoidance of doubt, upon the occurrence of the failure by the Company to fully, faithfully
and punctually perform and discharge any of its duties, obligations and responsibilities as set forth in any of the Transaction
Documents, which shall have been performed or otherwise discharged prior to the Closing (as defined below), the Subscriber may,
on or prior to the Closing, at its sole and absolute discretion, elect not to purchase the Units and provide instructions to the
Company to receive the full and immediate refund of the Aggregate Purchase Price. In the event the Closing does not take place
because of (i) the election not to purchase the Units by the Subscriber or (ii) the failure to effectuate an initial Closing (as
defined below) of the Minimum Amount on or prior to September 30, 2017 (unless extended in the discretion of the Board of Directors)
for any reason or no reason, this Agreement and any other Transaction Documents shall thereafter be terminated and have no force
or effect, and the parties shall take all steps, including the execution of instructions to the Company, to ensure that the Aggregate
Purchase Price shall promptly be returned or caused to be returned to the Subscriber without interest thereon or deduction therefrom.

 

(b)
Closing. The closing of the purchase and sale of the Units hereunder (the “Closing”) shall take place
at such times and place as determined by the Company. Closings shall take place on a Business Day promptly following the satisfaction
of the conditions set forth in Section 6 below, as determined by the Company (the “Closing Date”). “Business
Day” shall mean from the hours of 9:00 a.m. (Eastern Time) through 5:00 p.m. (Eastern Time) of a day other than a Saturday,
Sunday or other day on which commercial banks in New York, New York are authorized or required to be closed.

 

(c)
Following Acceptance or Rejection. The Subscriber acknowledges and agrees that this Agreement and any other documents delivered
in connection herewith will be held by the Company. Prior to the Company’s execution, in the event that this Agreement is
not accepted by the Company for whatever reason, which the Company expressly reserves the right to do, this Agreement, the Aggregate
Purchase Price received (without interest thereon) and any other documents delivered in connection herewith will be returned to
the Subscriber at the address of the Subscriber as set forth in this Agreement. If this Agreement is accepted by the Company,
the Company is entitled to treat the Aggregate Purchase Price received as an interest free loan to the Company until such time
as the Subscription is accepted.

 

    	 	 	 3

    	 

    

 

(d)
Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of Common
Stock as a dividend or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock,
or (c) combine its outstanding shares of the Common Stock into a smaller number of shares of Common Stock, then, in each
such event, the Purchase Price shall, simultaneously with the happening of such event, be adjusted by multiplying the then Purchase
Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such
event and the denominator of which shall be the number of shares of Common Stock outstanding immediately after such event, and
the product so obtained shall thereafter be the Purchase Price then in effect. The Purchase Price, as so adjusted, shall be readjusted
in the same manner upon the happening of any successive event or events described herein. The number of Units that the Subscriber
shall thereafter be entitled to receive (including number of Conversion Shares or Warrant Shares the Subscriber may thereafter
be entitled to receive upon conversion of the Shares or exercise of the Warrants, as the case may be) shall be adjusted to a number
determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section) be
issuable on such conversion or exercise by a fraction of which (a) the numerator is the Purchase Price that would otherwise (but
for the provisions of this Section) be in effect, and (b) the denominator is the Purchase Price then in effect.

 

(e)
Certificate as to Adjustments. In each case of any adjustment or readjustment in (i) the Shares, (ii) the number of Conversion
Shares issuable upon conversion of the Shares (iii) the number of Warrant Shares issuable upon the exercise of the Warrants, (iv)
the exercise price of the Warrants and/or (v) the conversion price of the Shares, the Company, at its expense, will promptly cause
its Chief Financial Officer or other appropriate designee to compute such adjustment or readjustment in accordance with the terms
hereof and of the Series F Certificate of Designation or the Warrant, as applicable, and prepare a certificate setting forth such
adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. The Company will
forthwith mail a copy of each such certificate to the Subscriber. To the extent any such certificate contains material non-public
information, the Company shall, no later than the first Business Day after the date of delivery of such certificate to the Subscriber,
include such material non-public information in a Current Report on Form 8-K filed with the United States Securities and Exchange
Commission (the “SEC”). From and after the filing of such Form 8-K, the Company shall have disclosed all material
non-public information (if any) delivered to the Subscriber by the Company or any of its Subsidiaries, or any of their respective
officers, directors, employees or agents in connection with the transactions described in such certificate.

 

3.
THE SUBSCRIBER’s Representations, Warranties AND cOVENANTS

 

Each
Subscriber, severally and not jointly, hereby acknowledges, agrees with and represents, warrants and covenants to the Company,
as follows:

 

(a)
The Subscriber has full power and authority to enter into this Agreement, the execution and delivery of which has been duly authorized,
if applicable, and this Agreement constitutes a valid and legally binding obligation of the Subscriber, except as may be limited
by bankruptcy, reorganization, insolvency, moratorium and similar laws of general application relating to or affecting the enforcement
of rights of creditors, and except as enforceability of the obligations hereunder are subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding in equity or law).

 

(b)
The Subscriber acknowledges its understanding that the Offering and sale of the Securities is intended to be exempt from registration
under the Securities Act, by virtue of Section 4(a)(2) of the Securities Act and the provisions of Regulation D promulgated thereunder
(“Regulation D”). In furtherance thereof, the Subscriber represents and warrants to the Company and its affiliates
as follows:

 

(i)
The Subscriber realizes that the basis for the exemption from registration may not be available if, notwithstanding the Subscriber’s
representations contained herein, the Subscriber is merely acquiring the Securities for a fixed or determinable period in the
future, or for a market rise, or for sale if the market does not rise. The Subscriber does not have any such intention.

 

(ii)
The Subscriber realizes that the basis for exemption would not be available if the Offering is part of a plan or scheme to evade
registration provisions of the Securities Act or any applicable state or federal securities laws, except sales pursuant to a registration
statement or sales that are exempted under the Securities Act.

 

    	 	 	 4

    	 

    

 

(iii)
The Subscriber is acquiring the Securities solely for the Subscriber’s own beneficial account, for investment purposes,
and not with a view towards, or resale in connection with, any distribution of the Securities.

 

(iv)
The Subscriber has the financial ability to bear the economic risk of the Subscriber’s investment, has adequate means for
providing for its current needs and contingencies, and has no need for liquidity with respect to an investment in the Company.

 

(v)
The Subscriber and the Subscriber’s attorney, accountant, purchaser representative and/or tax advisor, if any (collectively,
the “Advisors”) has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of a prospective investment in the Securities. If other than an individual, the Subscriber also represents
it has not been organized solely for the purpose of acquiring the Securities.

 

(vi)
The Subscriber (together with its Advisors, if any) has received all documents requested by the Subscriber, if any, and has carefully
reviewed them and understands the information contained therein, prior to the execution of this Agreement.

 

(c)
The Subscriber is not relying on the Company or any of its employees, agents, sub-agents or advisors with respect to the legal,
tax, economic and related considerations involved in this investment. The Subscriber has relied on the advice of, or has consulted
with, only its Advisors. Each Advisor, if any, has disclosed to the Subscriber in writing (a copy of which is annexed to this
Agreement) the specific details of any and all past, present or future relationships, actual or contemplated, between the Advisor
and the Company or any affiliate or sub-agent thereof.

 

(d)
The Subscriber has carefully considered the potential risks relating to the Company and a purchase of the Securities, and fully
understands that the Securities are a speculative investment that involves a high degree of risk of loss of the Subscriber’s
entire investment. Among other things, the Subscriber has carefully considered each of the risks described under the heading “Risk
Factors” and “Forward Looking Statements” in the Company’s SEC Filings (as defined below) and
any additional disclosures in the nature of Risk Factors described herein.

 

(e)
The Subscriber will not sell or otherwise transfer any Securities without registration under the Securities Act or an exemption
therefrom, and fully understands and agrees that the Subscriber must bear the economic risk of its purchase because, among other
reasons, the Securities have not been registered under the Securities Act or under the securities laws of any state and, therefore,
cannot be resold, pledged, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act
and under the applicable securities laws of such states, or an exemption from such registration is available. In particular, the
Subscriber is aware that the Securities are “restricted securities,” as such term is defined in Rule 144 promulgated
under the Securities Act (“Rule 144”), and they may not be sold pursuant to Rule 144 unless all of the conditions
of Rule 144 are met. The Subscriber also understands that the Company is under no obligation to register the Securities on behalf
of the Subscriber or to assist the Subscriber in complying with any exemption from registration under the Securities Act or applicable
state securities laws. The Subscriber understands that any sales or transfers of the Securities are further restricted by state
securities laws and the provisions of this Agreement.

 

(f)
No oral or written representations or warranties have been made, or information furnished, to the Subscriber or its Advisors,
if any, by the Company or any of its officers, employees, agents, sub-agents, affiliates, advisors or subsidiaries in connection
with the Offering, other than any representations of the Company contained herein, and in subscribing for the Units the Subscriber
is not relying upon any representations other than those contained herein.

 

(g)
The Subscriber’s overall commitment to investments that are not readily marketable is not disproportionate to the Subscriber’s
net worth, and an investment in the Securities will not cause such overall commitment to become excessive.

 

    	 	 	 5

    	 

    

 

(h)
The Subscriber understands and agrees that the certificates for the Securities shall bear substantially the following legend:

 

“[NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN][THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN] REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE
OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION
OF COUNSEL TO THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT
REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT
SECURED BY THE SECURITIES.”

 

(i)
Certificates evidencing Securities shall not be required to contain the legend set forth in Section 3(h) above or any other
legend (i) while a registration statement covering the resale of such Securities is effective under the Securities Act, (ii) following
any sale of such Securities pursuant to Rule 144 (assuming the transferor is not an affiliate of the Company), (iii) if such Securities
are eligible to be sold, assigned or transferred under Rule 144 and the Subscriber is not an affiliate of the Company (provided
that the Subscriber provides the Company with reasonable assurances that such Securities are eligible for sale, assignment or
transfer under Rule 144 which shall not include an opinion of the Subscriber’s counsel), (iv) in connection with a sale,
assignment or other transfer (other than under Rule 144), provided that the Subscriber provides the Company with an opinion of
counsel (at the expense of the Company), in a form generally acceptable to the Company, to the effect that such sale, assignment
or transfer of the Securities may be made without registration under the applicable requirements of the Securities Act or (v)
if such legend is not required under applicable requirements of the Securities Act (including, without limitation, controlling
judicial interpretations and pronouncements issued by the SEC). If a legend is not required pursuant to the foregoing, the Company
shall no later than three (3) business days following the delivery by the Subscriber to the Company or the transfer agent (with
notice to the Company) of a legended certificate representing such Securities (endorsed or with stock powers attached, signatures
guaranteed, and otherwise in form necessary to affect the reissuance and/or transfer, if applicable), together with any other
deliveries from the Subscriber as may be required above in this Section 3(i), as directed by the Subscriber, either: (A)
provided that the Company’s transfer agent is participating in the DTC Fast Automated Securities Transfer Program and such
Securities are Conversion Shares or Warrant Shares, credit the aggregate number of shares of Common Stock to which the Subscriber
shall be entitled to the Subscriber’s or its designee’s balance account with DTC through its Deposit/Withdrawal at
Custodian system or (B) if the Company’s transfer agent is not participating in the DTC Fast Automated Securities Transfer
Program, issue and deliver (via reputable overnight courier) to the Subscriber, a certificate representing such Securities that
is free from all restrictive and other legends, registered in the name of the Subscriber or its designee. The Company shall be
responsible for any transfer agent fees or DTC fees with respect to any issuance of Securities or the removal of any legends with
respect to any Securities in accordance herewith.

 

(j)
Neither the SEC nor any state securities commission has approved the Securities or passed upon or endorsed the merits of the Offering.
There is no government or other insurance covering any of the Securities.

 

(k)
The Subscriber and its Advisors, if any, have had a reasonable opportunity to ask questions of and receive answers from a person
or persons acting on behalf of the Company concerning the Offering and the business, financial condition, results of operations
and prospects of the Company, and all such questions have been answered to the full satisfaction of the Subscriber and its Advisors,
if any.

 

(l)
(i) In making the decision to invest in the Securities the Subscriber has relied solely upon the information provided by the Company
in the Transaction Documents. To the extent necessary, the Subscriber has retained, at its own expense, and relied upon appropriate
professional advice regarding the investment, tax and legal merits and consequences of this Agreement and the purchase of the
Securities hereunder. The Subscriber disclaims reliance on any statements made or information provided by any person or entity
in the course of Subscriber’s consideration of an investment in the Securities other than the Transaction Documents. 

 

    	 	 	 6

    	 

    

 

(ii)
The Subscriber represents and warrants that: (i) the Subscriber was contacted regarding the sale of the Securities by the Company
(or an authorized agent or representative thereof) with whom the Subscriber had a prior substantial pre-existing relationship
and (ii) no Securities were offered or sold to it by means of any form of general solicitation or general advertising, and in
connection therewith, the Subscriber did not (A) receive or review any advertisement, article, notice or other communication published
in a newspaper or magazine or similar media or broadcast over television or radio, whether closed circuit, or generally available;
or (B) attend any seminar meeting or industry investor conference whose attendees were invited by any general solicitation or
general advertising; or (C) observe any website or filing of the Company with the SEC in which any offering of securities by the
Company was described and as a result learned of any offering of securities by the Company.

 

(m)
The Subscriber has taken no action that would give rise to any claim by any person for brokerage commissions, finders’ fees
or the like relating to this Agreement or the transactions contemplated hereby.

 

(n)
The Subscriber is not relying on the Company or any of its employees, agents, or advisors with respect to the legal, tax, economic
and related considerations of an investment in the Securities, and the Subscriber has relied on the advice of, or has consulted
with, only its own Advisors.

 

(o)
The Subscriber acknowledges that any estimates or forward-looking statements or projections furnished by the Company to the Subscriber
were prepared by the management of the Company in good faith, but that the attainment of any such projections, estimates or forward-looking
statements cannot be guaranteed by the Company or its management and should not be relied upon.

 

(p)
No oral or written representations have been made, or oral or written information furnished, to the Subscriber or its Advisors,
if any, in connection with the Offering that are in any way inconsistent with the information contained herein.

 

(q)
(For ERISA plans only) The fiduciary of the ERISA plan (the “Plan”) represents that such fiduciary has been informed
of and understands the Company’s investment objectives, policies and strategies, and that the decision to invest “plan
assets” (as such term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require diversification
of plan assets and impose other fiduciary responsibilities. The Subscriber or Plan fiduciary (i) is responsible for the decision
to invest in the Company; (ii) is independent of the Company and any of its affiliates; (iii) is qualified to make such investment
decision; and (iv) in making such decision, the Subscriber or Plan fiduciary has not relied primarily on any advice or recommendation
of the Company or any of its affiliates.

 

(r)
This Agreement is not enforceable by the Subscriber unless it has been accepted by the Company, and the Subscriber acknowledges
and agrees that the Company reserves the right to reject any subscription for any reason.

 

(s)
The Subscriber is an “Accredited Investor” as defined in Rule 501(a) under the Securities Act. In general, an “Accredited
Investor” is deemed to be an institution with assets in excess of $5,000,000 or individuals with a net worth in excess of
$1,000,000 (excluding such person’s residence) or annual income exceeding $200,000 or $300,000 jointly with his or her spouse.

 

(t)
The Subscriber, either alone or together with its representatives, has such knowledge, sophistication and experience in business
and financial matters so as to be capable of evaluating the merits and risks of the Offering, and has so evaluated the merits
and risks of such investment. The Subscriber has not authorized any person or entity to act as its Purchaser Representative (as
that term is defined in Regulation D of the General Rules and Regulations under the Securities Act) in connection with the Offering.
The Subscriber is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford
a complete loss of such investment.

 

    	 	 	 7

    	 

    

 

4.
THE COMPANY’S Representations, Warranties and Covenants

 

The
Company hereby acknowledges, agrees with and represents, warrants and covenants to each Subscriber as of the date hereof and as
of the Closing Date, except as set forth in the disclosure schedule attached hereto (the “Company Disclosure Schedule”,
which Company Disclosure Schedules shall be deemed a part hereof and shall qualify any representation made herein only to the
extent of the disclosure contained in the corresponding section of the Disclosure Schedules, as follows:

 

(a)
Organization and Qualification. The Company is a corporation duly organized, validly existing and in good standing under
the laws of its state of incorporation. The Company is duly qualified to do business, and is in good standing in the states required
due to (a) the ownership or lease of real or personal property for use in the operation of the Company’s business or (b)
the nature of the business conducted by the Company, except where the failure to so qualify would not, individually or in the
aggregate, have a Material Adverse Effect. The Company has all requisite power, right and authority to own, operate and lease
its properties and assets, to carry on its business as now conducted, to execute, deliver and perform its obligations under this
Agreement and the other Transaction Documents to which it is a party, and to carry out the transactions contemplated hereby and
thereby, subject to the Required Approvals. All actions on the part of the Company and its officers and directors necessary for
the authorization, execution, delivery and performance of this Agreement and the other Transaction Documents, the consummation
of the transactions contemplated hereby and thereby, and the performance of all of the Company’s obligations under this
Agreement and the other Transaction Documents have been taken or will be taken prior to the Closing. This Agreement has been,
and the other Transaction Documents to which the Company is a party on the Closing will be, duly executed and delivered by the
Company, and this Agreement is, and each of the other Transaction Documents to which it is a party on the Closing will be, a legal,
valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as may be limited
by bankruptcy, reorganization, insolvency, moratorium and similar laws of general application relating to or affecting the enforcement
of rights of creditors, and except as enforceability of the obligations hereunder are subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding in equity or law).

 

(b)
Issuance of Securities. The Securities to be issued to the Subscriber pursuant to this Agreement and the applicable Transaction
Documents, when issued and delivered in accordance with the terms of this Agreement and the applicable Transaction Documents,
will be duly and validly issued and will be fully paid and non-assessable and the Warrant Shares and the Conversion Shares, when
issued and delivered in accordance with Warrant and the Series F Certificate of Designation, as applicable, and assuming proper
payment (with respect to the Warrant Shares) and exercise in accordance with the provisions of such documents, will be duly and
validly issued and will be fully paid and non-assessable.

 

(c)
Authorization; Enforcement. The execution, delivery and performance of this Agreement and the other Transaction Documents
by the Company, and the consummation of the transactions contemplated hereby and thereby, will not (a) constitute a violation
(with or without the giving of notice or lapse of time, or both) of any provision of any law or any judgment, decree, order, regulation
or rule of any court, agency or other governmental authority applicable to the Company, (b) except as set forth in Section 4(d)
below, require any consent, approval or authorization of, or declaration, filing or registration with, any person, (c) result
in a default (with or without the giving of notice or lapse of time, or both) under, acceleration or termination of, or the creation
in any party of the right to accelerate, terminate, modify or cancel, any agreement, lease, note or other restriction, encumbrance,
obligation or liability to which the Company is a party or by which it is bound or to which any assets of the Company are subject,
(d) result in the creation of any lien or encumbrance upon the assets of the Company, or upon any shares of Common Stock, preferred
stock or other securities of the Company, (e) conflict with or result in a breach of or constitute a default under any provision
of the certificate of incorporation or bylaws of the Company, or (f) invalidate or adversely affect any permit, license, authorization
or status used in the conduct of the business of the Company.

 

(d)
Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of,
give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority
or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other
than: (i) approval of the issuance of the securities by The NASDAQ Stock Market LLC (“NASDAQ Approval”), (ii)
the filing of Form D with the SEC and such filings as are required to be made under applicable state securities laws or (iii)
as set forth on Schedule 4(d) (collectively, the “Required Approvals”).

 

    	 	 	 8

    	 

    

 

(e)
SEC Filings. The Company is subject to, and in full compliance with, the reporting requirements of Section 13 or 15(d)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company has made available to
each Subscriber through the EDGAR system true and complete copies of the Company’s filings for the prior two full fiscal
years plus any interim period (collectively, the “SEC Filings”), and all such SEC Filings are incorporated
herein by reference. The SEC Filings, when they were filed with the SEC (or, if any amendment with respect to any such document
was filed, when such amendment was filed), complied in all material respects with the applicable requirements of the Exchange
Act and the rules and regulations thereunder and did not, as of such date, contain an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading. All reports and statements required to be filed by the Company under
the Exchange Act have been filed, together with all exhibits required to be filed therewith. The Company and each of its direct
and indirect subsidiaries, if any (collectively, the “Subsidiaries”), are engaged in all material respects
only in the business described in the SEC Filings, and the SEC Filings contain a complete and accurate description in all material
respects of the business of the Company and the Subsidiaries.

 

(f)
No Financial Advisor. The Company acknowledges and agrees that each Subscriber is acting solely in the capacity of an arm’s
length purchaser with respect to the Securities and the transactions contemplated hereby. The Company further acknowledges that
Subscriber is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this
Agreement and the transactions contemplated hereby and any advice given by any Subscriber or any of its representatives or agents
in connection with this Agreement and the transactions contemplated hereby is merely incidental to such Subscriber’s purchase
of the Securities. The Company further represents to each Subscriber that the Company’s decision to enter into this Agreement
has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

 

(g)
Indemnification. The Company will indemnify and hold harmless each Subscriber and, where applicable, its directors, officers,
employees, agents, advisors and shareholders (each, an “Indemnitee”, from and against any and all loss, liability,
claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses whatsoever reasonably
incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or investigation whether
commenced or threatened) (the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising
out of, or relating to (i) any misrepresentation or breach of any representation or warranty made by the Company or any Subsidiary
in any of the Transaction Documents, (ii) any breach of any covenant, agreement or obligation of the Company or any Subsidiary
contained in any of the Transaction Documents or (iii) any cause of action, suit, proceeding or claim brought or made against
such Indemnitee by a third party (including for these purposes a derivative action brought on behalf of the Company or any Subsidiary)
or which otherwise involves such Indemnitee that arises out of or results from (A) the execution, delivery, performance or enforcement
of any of the Transaction Documents, (B) any transaction financed or to be financed in whole or in part, directly or indirectly,
with the proceeds of the issuance of the Securities, or (C) the status of such Subscriber or holder of the Securities either as
an investor in the Company pursuant to the transactions contemplated by the Transaction Documents or as a party to this Agreement
(including, without limitation, as a party in interest or otherwise in any action or proceeding for injunctive or other equitable
relief). To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make
the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable
law.

 

(h)
Capitalization and Additional Issuances. The capitalization of the Company is as set forth in Schedule 4(h).
Except as set forth in Schedule 4(h), the Company has not issued any capital stock since its most recently filed periodic
report under the Exchange Act. No Person has any right of first refusal, preemptive right, right of participation, or any similar
right to participate in the transactions contemplated by the Transaction Documents. Except as disclosed on Schedule 4(h),
there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to
subscribe for or acquire any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company
or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents. Except as set
forth on Schedule 4(h), the issuance and sale of the Securities will not obligate the Company to issue shares of Common
Stock or other securities to any Person (other than the Subscribers) and will not result in a right of any holder of Company securities
to adjust the exercise, conversion, exchange or reset price under any of such securities. All of the outstanding shares of capital
stock of the Company are duly authorized, validly issued, fully paid and nonassessable, have been issued in material compliance
with all federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive rights
or similar rights to subscribe for or purchase securities. Except for NASDAQ Approval, no further approval or authorization of
any stockholder, the Board of Directors or others is required for the issuance and sale of the Securities. There are no stockholders
agreements, voting agreements or other similar agreements with respect to the Company’s capital stock to which the Company
is a party or, to the knowledge of the Company, between or among any of the Company’s stockholders .

 

    	 	 	 9

    	 

    

 

(i)
Private Placements. Assuming the accuracy of each Subscriber’s representations and warranties set forth in Section
3, no registration under the Securities Act is required for the offer and sale of the Securities by the Company to the Subscribers
as contemplated hereby.

 

(j)
Investment Company. The Company is not, and is not an affiliate of, and immediately after receipt of payment for the Units
will not be or be an affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940,
as amended. The Company shall conduct its business in a manner so that it will not become subject to the Investment Company Act.

 

(k)
Reporting Company/Shell Company Status. The Company is a publicly-held company subject to reporting obligations pursuant
to Sections 12(g) and 13 of the Exchange Act. Pursuant to the provisions of the Exchange Act, the Company has timely filed all
reports and other materials required to be filed by the Company thereunder with the SEC during the preceding twelve months. The
Company, as of the Closing Date, is not a “shell company”, as that term is employed in Rule 144 under the Securities
Act. Except as otherwise set forth in the SEC Filings, the Company is in full compliance with the continued listing standards
of The NASDAQ Capital Market (“NASDAQ”), 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.

 

(l)
Litigation. Except for (a) letter dated February 25, 2016 and letter dated June 29, 2016 (Review of Trading in Majesco
Entertainment Co., Matter 20160484409) and (b) letter dated December 15, 2016 and September 7, 2017 (Review of Trading in Majesco
Entertainment Company Matter 20160523491) and (c) as set forth in the SEC Filings, there is no action, suit, proceeding, inquiry
or investigation before or by the Trading Market, any court, public board, other Governmental Entity, self-regulatory organization
or body pending or, to the knowledge of the Company, threatened against or affecting the Company or any of its Subsidiaries, the
Common Stock or any of the Company’s or its Subsidiaries’ officers or directors which is outside of the ordinary course
of business or individually or in the aggregate material to the Company or any of its Subsidiaries. No director, officer or employee
of the Company or any of its Subsidiaries has willfully violated 18 U.S.C. §1519 or engaged in spoliation in reasonable anticipation
of litigation. Without limitation of the foregoing, there has not been, and to the knowledge of the Company, there is not pending
or contemplated, any investigation by the SEC involving the Company, any of its Subsidiaries or any current or former director
or officer of the Company or any of its Subsidiaries. The SEC has not issued any stop order or other order suspending the effectiveness
of any registration statement filed by the Company under the Securities Act or the Exchange Act. “Governmental Entity”
means any nation, state, county, city, town, village, district, or other political jurisdiction of any nature, federal, state,
local, municipal, foreign, or other government, governmental or quasi-governmental authority of any nature (including any governmental
agency, branch, department, official, or entity and any court or other tribunal), multi-national organization or body; or body
exercising, or entitled to exercise, any administrative, executive, judicial, legislative, police, regulatory, or taxing authority
or power of any nature or instrumentality of any of the foregoing, including any entity or enterprise owned or controlled by a
government or a public international organization or any of the foregoing. “Trading Market” means any of the
following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the New York
Stock Exchange, the NYSE MKT, The NASDAQ Capital Market, The NASDAQ Global Market, The NASDAQ Global Select Market, OTCQX or OTCQB
(or any successors to any of the foregoing).

 

    	 	 	 10

    	 

    

 

(m)
Employee Relations. Neither the Company nor any of its Subsidiaries is a party to any collective bargaining agreement or
employs any member of a union. The Company believes that its and its Subsidiaries’ relations with their respective employees
are good. The Company and its Subsidiaries are in compliance with all federal, state, local and foreign laws and regulations respecting
labor, employment and employment practices and benefits, terms and conditions of employment and wages and hours, except where
failure to be in compliance would not, either individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect. “Material Adverse Effect” means any material adverse effect on (i) the business, properties,
assets, liabilities, operations (including results thereof), condition (financial or otherwise) or prospects of the Company or
any Subsidiary, individually or taken as a whole, (ii) the transactions contemplated hereby or in any of the other Transaction
Documents or (iii) the authority or ability of the Company or any of its Subsidiaries to perform any of their respective obligations
under any of the Transaction Documents.

 

(n)
Tax Status. The Company and each of its Subsidiaries (i) has timely made or filed all foreign, federal and state income
and all other tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has timely paid
all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns,
reports and declarations, except those being contested in good faith and (iii) has set aside on its books provision reasonably
adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply.
There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers
of the Company and its Subsidiaries know of no basis for any such claim. The Company is not operated in such a manner as to qualify
as a passive foreign investment company, as defined in Section 1297 of the U.S. Internal Revenue Code of 1986, as amended.

 

(o)
Indebtedness and Other Contracts. Except as set forth on Schedule 4(o) annexed hereto, neither the Company nor any
of its Subsidiaries, (i) has any outstanding Indebtedness (as defined below), (ii) is a party to any contract, agreement or instrument,
the violation of which, or default under which, by the other party(ies) to such contract, agreement or instrument could reasonably
be expected to result in a Material Adverse Effect, (iii) is in violation of any term of, or in default under, any contract, agreement
or instrument relating to any Indebtedness, except where such violations and defaults would not result, individually or in the
aggregate, in a Material Adverse Effect, or (iv) is a party to any contract, agreement or instrument relating to any Indebtedness,
the performance of which, in the judgment of the Company’s officers, has or is expected to have a Material Adverse Effect.
For purposes of this Agreement: (x) “Indebtedness” of any Person means, without duplication (A) all indebtedness
for borrowed money, (B) all obligations issued, undertaken or assumed as the deferred purchase price of property or services (including,
without limitation, “capital leases” in accordance with generally accepted accounting principles) obligations with
respect to letters of credit, surety bonds and other similar instruments, (D) all obligations evidenced by notes, bonds, debentures
or similar instruments, including obligations so evidenced incurred in connection with the acquisition of property, assets or
businesses, (E) all indebtedness created or arising under any conditional sale or other title retention agreement, or incurred
as financing, in either case with respect to any property or assets acquired with the proceeds of such indebtedness (even though
the rights and remedies of the seller or bank under such agreement in the event of default are limited to repossession or sale
of such property), (F) all monetary obligations under any leasing or similar arrangement which, in connection with generally accepted
accounting principles, consistently applied for the periods covered thereby, is classified as a capital lease, (G) all indebtedness
referred to in clauses (A) through (F) above secured by (or for which the holder of such Indebtedness has an existing right, contingent
or otherwise, to be secured by) any mortgage, claim, lien, tax, right of first refusal, pledge, charge, security interest or other
encumbrance upon or in any property or assets (including accounts and contract rights) owned by any Person, even though the Person
which owns such assets or property has not assumed or become liable for the payment of such indebtedness, and (H) all Contingent
Obligations in respect of indebtedness or obligations of others of the kinds referred to in clauses (A) through (G) above; (y)
“Contingent Obligation” means, as to any Person, any direct or indirect liability, contingent or otherwise,
of that Person with respect to any indebtedness, lease, dividend or other obligation of another Person if the primary purpose
or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of such
liability that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that
the holders of such liability will be protected (in whole or in part) against loss with respect thereto; and (z) “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity and any Governmental Entity or any department or agency thereof.

 

    	 	 	 11

    	 

    

 

(p)
No Undisclosed Events, Liabilities, Developments or Circumstances. Since the date of the latest audited financial statements
included within the SEC Filings, except as specifically disclosed in a subsequent SEC Filing: (i) there has been no event, occurrence
or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has
not incurred any material liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in
the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company’s
financial statements pursuant to GAAP or disclosed in filings made with the SEC, (iii) the Company has not altered its method
of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders
or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) except as set forth
on Schedule 4(h), the Company has not issued any equity securities to any officer, director or Affiliate. The Company does
not have pending before the SEC any request for confidential treatment of information. Except for the issuance of the Securities
contemplated by this Agreement or as set forth on Schedule 4(p), no event, liability, fact, circumstance, occurrence or
development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries
or their respective businesses, properties, operations, assets or financial condition, that would be required to be disclosed
by the Company under applicable securities laws at the time this representation is made or deemed made that has not been publicly
disclosed at least two Trading Days prior to the date that this representation is made.

 

(q)
No Additional Agreements. Neither the Company nor any of its Subsidiaries has any agreement or understanding with any Subscriber
with respect to the transactions contemplated by the Transaction Documents other than pursuant to documents substantially identical
to the Transaction Documents.

 

(r)
No Disqualification Events. To the Company’s knowledge, none of the Company, any of its predecessors, any affiliated
issuer, any director, executive officer, other officer of the Company participating in the offering contemplated hereby, any beneficial
owner of 20% or more of the Company’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 Securities Act) connected with the Company in any capacity at the
time of sale (each, an “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications
described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for
a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any
Issuer Covered Person is subject to a Disqualification Event.

 

(s)
General Solicitation. None of the Company, any of its affiliates (as defined in Rule 501(b) under the Securities Act) or
any person acting on behalf of the Company or such affiliate will solicit any offer to buy or offer or sell the Securities by
means of any form of general solicitation or general advertising within the meaning of Regulation D, including: (i) any advertisement,
article, notice or other communication published in any newspaper, magazine or similar medium or broadcast over television or
radio; and (ii) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising.

 

(t)
Compliance. To the Company’s knowledge, neither the Company nor any Subsidiary: (i) is in default under or in violation
of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by
the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under
or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party
or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation
of any judgment, decree or order of any court, arbitrator or other governmental authority or (iii) is or has been in violation
of any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal,
state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and
employment and labor matters, except in each case as could not have or reasonably be expected to result in a Material Adverse
Effect.

 

(u)
Regulatory Permits. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the
appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as described
in the SEC Filings, except where the failure to possess such permits could not reasonably be expected to result in a Material
Adverse Effect (“Material Permits”), and neither the Company nor any Subsidiary has received any notice of
proceedings relating to the revocation or modification of any Material Permit.

 

    	 	 	 12

    	 

    

 

(v)
Title to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property (if
any) owned by them and good and marketable title in all personal property owned by them that is material to the business of the
Company and the Subsidiaries, in each case free and clear of all liens, except for (i) liens as do not materially affect the value
of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and
the Subsidiaries and (ii) liens for the payment of federal, state or other taxes, for which appropriate reserves have been made
in accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities
held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which
the Company and the Subsidiaries are in compliance.

 

(w)
Intellectual Property.

 

1.
The term “Intellectual Property Rights” includes:

 

(a)
the name of the Company and each Subsidiary, all fictional business names, trading names, registered and unregistered trademarks,
service marks, and applications of the Company and each Subsidiary (collectively, “Marks’’);

 

(b)
all patents, patent applications, and inventions and discoveries that may be patentable of the Company and each Subsidiary (collectively,
“Patents’’);

 

(c)
all copyrights in both published works and published works of the Company and each Subsidiary (collectively, “Copyrights”);
and

 

(d)
all know-how, trade secrets, confidential information, customer lists, software, technical information, data, process technology,
plans, drawings, and blue prints (collectively, “Trade Secrets’’); owned, used, or licensed by the Company
and each Subsidiary as licensee or licensor.

 

2.
Know-How Necessary for the Business. The Intellectual Property Rights are all those necessary for the operation of the
Company’s businesses as it is currently conducted or as represented, in writing, to the Subscriber to be conducted. The
Company is the owner of all right, title, and interest in and to each of the Intellectual Property Rights, free and clear of all
liens, security interests, charges, encumbrances, equities, and other adverse claims. To the Company’s knowledge, no employee
of the Company has entered into any contract that restricts or limits in any way the scope or type of work in which the employee
may be engaged or requires the employee to transfer, assign, or disclose information concerning his work to anyone other than
of the Company.

 

3.
Patents. The Company is the owner of all right, title and interest in and to each of the Patents, free and clear of all
liens and other adverse claims or license agreements. 

 

4.
Trademarks. The Company is the owner of all right, title, and interest in and to each of the Marks, free and clear of all
liens and other adverse claims. All Marks that have been registered with the United States Patent and Trademark Office are currently
in compliance with all formal legal requirements (including the timely post-registration filing of affidavits of use and incontestability
and renewal applications), are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling
due within ninety days after the Closing Date. 

 

5.
Copyrights. The Company is the owner of all right, title, and interest in and to each of the Copyrights, free and clear
of all liens and other adverse claims. All Copyrights that have been registered are currently in compliance with formal requirements,
are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety days after
the date of the Closing

 

6.
Trade Secrets. With respect to each Trade Secret, the Company has taken all reasonable precautions to protect the secrecy,
confidentiality, and value of its Trade Secrets. The Trade Secrets are not part of the public knowledge or literature, and, to
the Company’s knowledge, have not been used, divulged, or appropriated either for the benefit of any Person (other the Company)
or to the detriment of the Company. No Trade Secret is subject to any adverse claim or has been challenged or threatened in any
way.

 

    	 	 	 13

    	 

    

 

(x)
Stock Option Plans. Since commencement of trading of the Company’s Common Stock on NASDAQ, each stock option granted
by the Company under the stock option plan was granted (i) in accordance with the terms of such stock option plan and (ii) with
an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered
granted under GAAP and applicable law. No stock option granted under any stock option plan has been backdated. The Company has
not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to,
or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information
regarding the Company or its Subsidiaries or their financial results or prospects.

 

(y)
Office of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director,
officer, agent, employee or affiliate of the Company is currently subject to any U.S. sanctions administered by the Office of
Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

 

(z)
Listing and Maintenance Requirements. The Common Stock is quoted on NASDAQ under the symbol “COOL”. Except
as described in the SEC Filings, the Company has not, in the twenty-four (24) months preceding the date hereof, received notice
from any Trading Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance
with the listing or maintenance requirements of such Trading Market.

 

(aa)
Regulation M Compliance. The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly
or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of
the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or paid any compensation
for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting
another to purchase any other securities of the Company.

 

(bb)
Money Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance
in all material respects with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions
Reporting Act of 1970, as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively,
the “Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency,
authority or body or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending
or, to the knowledge of the Company or any Subsidiary, threatened

 

(cc)
Acknowledgment Regarding Subscriber’s Trading Activity. Anything in this Agreement or elsewhere herein to the contrary
notwithstanding, it is understood and acknowledged by the Company that: (i) none of the Subscribers has been asked by the Company
to agree, nor has any Subscriber agreed, to desist from purchasing or selling, long and/or short, securities of the Company, or
“derivative” securities based on securities issued by the Company or to hold the Securities for any specified term,
(ii) past or future open market or other transactions by any Subscriber, specifically including, without limitation, Short Sales
or “derivative” transactions, before or after the closing of this or future private placement transactions, may negatively
impact the market price of the Company’s publicly-traded securities, (iii) any Subscriber, and counter-parties in “derivative”
transactions to which any such Subscriber is a party, directly or indirectly, may presently have a “short” position
in the Common Stock and (iv) each Subscriber shall not be deemed to have any affiliation with or control over any arm’s
length counter-party in any “derivative” transaction. The
Company further understands and acknowledges that (y) one or more Subscribers may engage in hedging activities at various times
during the period that the Securities are outstanding, including, without limitation, during the periods that the value of the
Shares, Conversion Shares or Warrant Shares deliverable with respect to Securities are being determined, and (z) such hedging
activities (if any) could reduce the value of the existing stockholders’ equity interests in the Company at and after the
time that the hedging activities are being conducted. The Company acknowledges that such aforementioned hedging activities do
not constitute a breach of any of the Transaction Documents. There are no disagreements of any kind presently existing, or reasonably
anticipated by the Company to arise, between the Company and the accountants and lawyers formerly or presently employed by the
Company and the Company is current with respect to any fees owed to its accountants and lawyers which could affect the Company’s
ability to perform any of its obligations under any of the Transaction Documents.

 

    	 	 	 14

    	 

    

 

(dd)
Acknowledgment Regarding Subscribers’ Purchase of Securities. The Company acknowledges and agrees that each of the
Subscribers is acting solely in the capacity of an arm’s length Subscriber with respect to the Transaction Documents and
the transactions contemplated thereby. The Company further acknowledges that no Subscriber is acting as a financial advisor or
fiduciary of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated
thereby and any advice given by any Subscriber or any of their respective representatives or agents in connection with the Transaction
Documents and the transactions contemplated thereby is merely incidental to the Subscribers’ purchase of the Securities.
The Company further represents to each Subscriber that the Company’s decision to enter into this Agreement and the other
Transaction Documents has been based solely on the independent evaluation of the transactions contemplated hereby by the Company
and its representatives.

 

(ee)
No Integrated Offering. Assuming the accuracy of the Subscribers’ representations and warranties set forth in Section
3, neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made
any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering
of the Securities to be integrated with prior offerings by the Company for purposes of: (i) the Securities Act which would require
the registration of any such securities under the Securities Act, or (ii) any applicable shareholder approval provisions of any
Trading Market on which any of the securities of the Company are listed or designated.

 

(ff)
Application of Takeover Protections. The Company and the Board of Directors will have taken as of the Closing Date all
necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s certificate of incorporation
(or similar charter documents) or the laws of its state of incorporation that is or could become applicable to the Subscribers
as a result of the Subscribers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents,
including without limitation as a result of the Company’s issuance of the Securities and the Subscribers’ ownership
of the Securities.

 

(gg)
Registration Rights. Other than as set forth on Schedule 4(gg), no Person other than the Subscribers herein has
any right to cause the Company or any Subsidiary to effect the registration under the Securities Act of any securities of the
Company or any Subsidiary.

 

(hh)
Certain Fees. Except as disclosed on Schedule 4(hh), no brokerage, finder’s fees, commissions or due diligence
fees are or will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement
agent, investment banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. The
Subscribers shall have no obligation with respect to any such fees or with respect to any claims made by or on behalf of other
Persons for fees of a type contemplated in this Section 4(hh) that may be due in connection with the transactions contemplated
by the Transaction Documents.

 

(ii)
Sarbanes-Oxley; Internal Accounting Controls. The Company and the Subsidiaries are in material compliance with any and
all applicable requirements of the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable
rules and regulations promulgated by the Commission thereunder that are effective as of the date hereof and as of the Closing
Date. Except as described in the SEC Filings, the Company and the Subsidiaries maintain a system of internal accounting controls
sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with management’s general or
specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity
with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s
general or specific authorization, and (iv) the recorded accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. Except as disclosed in the SEC Filings, the Company
and the Subsidiaries have established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
for the Company and the Subsidiaries and designed such disclosure controls and procedures to ensure that information required
to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and
reported, within the time periods specified in the Commission’s rules and forms. The Company’s certifying officers
have evaluated the effectiveness of the disclosure controls and procedures of the Company and the Subsidiaries as of the end of
the period covered by the most recently filed periodic report under the Exchange Act (such date, the “Evaluation Date”).
The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers
about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since
the Evaluation Date, there have been no changes in the internal control over financial reporting (as such term is defined in the
Exchange Act) of the Company and its Subsidiaries that have materially affected, or is reasonably likely to materially affect,
the internal control over financial reporting of the Company and its Subsidiaries.

 

    	 	 	 15

    	 

    

 

(jj)
Transactions With Affiliates and Employees. Except as set forth on Schedule 4(jj) and in the SEC Reports, none of
the officers or directors of the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the
Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other than for services
as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of
services to or by, providing for rental of real or personal property to or from, providing for the borrowing of money from or
lending of money to or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of
the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director,
trustee, stockholder, member or partner, in each case in excess of $50,000 other than for: (i) payment of salary or consulting
fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits,
including stock option agreements under any stock option plan of the Company except as disclosed on Schedule 4(jj).

 

(kk)
Insurance. The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such
losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries
are engaged, including, but not limited to, directors and officers insurance coverage at least equal to the Aggregate Purchase
Price. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance
coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue
its business without a significant increase in cost.

 

(ll)
Disclosure. 

 

The
Company confirms that neither it nor any other Person acting on its behalf has provided any of the Subscribers or their agents
or counsel with any information that constitutes or could reasonably be expected to constitute material, non-public information
regarding the Company or any of its Subsidiaries, other than the existence of the transactions contemplated by this Agreement
and the other Transaction Documents. The Company understands and confirms that each of the Subscribers will rely on the foregoing
representations in effecting transactions in securities of the Company. All disclosure provided to the Subscribers regarding the
Company and its Subsidiaries, their businesses and the transactions contemplated hereby, including the schedules to this Agreement,
furnished by or on behalf of the Company or any of its Subsidiaries is true and correct and does 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. No event or circumstance has occurred or information exists with
respect to the Company or any of its Subsidiaries or its or their business, properties, liabilities, prospects, operations (including
results thereof) or conditions (financial or otherwise), which, under applicable law, rule or regulation, requires public disclosure
at or before the date hereof or announcement by the Company but which has not been so publicly disclosed. The Company acknowledges
and agrees that no Subscriber makes or has made any representations or warranties with respect to the transactions contemplated
hereby other than those specifically set forth in Section 3.

 

    	 	 	 16

    	 

    

 

(mm)
Foreign Corrupt Practices. Neither the Company nor any Subsidiary, to the knowledge of the Company or any Subsidiary, any
agent or other person acting on behalf of the Company or any Subsidiary, has: (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any
unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns
from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person
acting on its behalf of which the Company is aware) which is in violation of law or (iv) violated in any material respect any
provision of Foreign Corrupt Practices Act.

 

(nn)
Office of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director,
officer, agent, employee or affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered
by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

 

(oo)
U.S. Real Property Holding Corporation. The Company is not and has never been a U.S. real property holding corporation
within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Subscriber’s
request.

 

(pp)
Bank Holding Company Act. Neither the Company nor any of its Subsidiaries or affiliates is subject to the Bank Holding
Company Act of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve
System (the “Federal Reserve”). Neither the Company nor any of its Subsidiaries or affiliates owns or controls,
directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent
or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither
the Company nor any of its Subsidiaries or affiliates exercises a controlling influence over the management or policies of a bank
or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

 

(qq)
Notice of Disqualification Events. The Company will notify the Subscriber in writing, prior to the Closing Date of (i)
any Disqualification Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become
a Disqualification Event relating to any Issuer Covered Person

 

(rr)
Survival. The foregoing representations and warranties shall survive the Closing.

 

5.
OTHER AGREEMENTS OF THE PARTIES

 

(a)
Furnishing of Information. As long as any Subscriber owns Securities, the Company covenants to timely file (or obtain extensions
in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date
hereof pursuant to the Exchange Act. As long as any Subscriber owns Securities, if the Company is not required to file reports
pursuant to the Exchange Act, it will prepare and furnish to the Subscribers and make publicly available in accordance with Rule
144(c) under the Securities Act such information as is required for the Subscribers to sell the Securities under Rule 144. The
Company further covenants that it will take such further action as any holder of Securities may reasonably request, at the sole
cost and expense of the Company including transfer agent and legal opinion fees and expenses, all to the extent required from
time to time to enable such person to sell such Securities without registration under the Securities Act within the limitation
of the exemptions proved by Rule 144 under the Securities Act.

 

(b)
Shareholder Rights Plan. No claim will be made or enforced by the Company or, to the knowledge of the Company, any other
person that any Subscriber is an “Acquiring Person” under any shareholder rights plan or similar plan or arrangement
in effect or hereafter adopted by the Company, or that any Subscriber could be deemed to trigger the provisions of any such plan
or arrangement, by virtue of receiving Securities under the Transaction Documents or under any other agreement between the Company
and the Subscribers.

 

    	 	 	 17

    	 

    

 

(c)
Securities Laws Disclosure; Publicity. The Company shall by 8:30 a.m. (New York City time) (a) on the first Business Day
after this Agreement has been executed, issue a press release disclosing the material terms of the transactions contemplated hereby
and (b) within four (4) Business Days after this Agreement has been executed, file a Current Report on Form 8-K with the SEC (the
“8-K Filing”). From and after the issuance of such press release and the filing of the 8-K Filing, the Company
shall have publicly disclosed all material, non-public information delivered to any of the Subscribers by the Company or any of
its Subsidiaries, or any of their respective officers, directors, employees or agents. The Company and each Subscriber shall consult
with each other in issuing any press releases with respect to the transactions contemplated hereby, and no Subscriber shall issue
any such press release or otherwise make any such public statement without the prior consent of the Company, which consent shall
not unreasonably be withheld. Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Subscriber,
or include the name of any Subscriber in any filing with the SEC or any regulatory agency, without the prior written consent of
such Subscriber, except to the extent such disclosure is required by law in which case the Company shall provide the Subscribers
with prior notice of such disclosure or if such disclosure is pursuant to the Registration Rights set forth in Section 7 herein
and the Registration Rights Agreement. The Company understands that any such disclosure shall cause irreparable harm and each
Subscriber shall be entitled to injunctive relief and liquidated damages in connection therewith.

 

(d)
Integration. The Company shall not, and shall use its best efforts to ensure that no affiliate of the Company shall, after
the date hereof, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security that would be
integrated with the offer or sale of the Units in a manner that would require the registration under the Securities Act of the
sale of the Units to the Subscribers.

 

(e)
Reservation of Securities. 

 

(i)
The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Transaction
Documents in such amount as may then be required to fulfill its obligations in full under the Transaction Documents, but not less
than 125% of the maximum number of shares of Common Stock issuable pursuant to the Transaction Documents (the “Required
Minimum”).

 

(ii)
If, on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required
Minimum on such date, then the Board of Directors shall approve the amendment of the Company’s Charter to increase the number
of authorized but unissued shares of Common Stock to at least the Required Minimum and submit such amendment to the Company’s
stockholders for approval, as soon as possible and in any event not later than the 60th day after such date.

 

(iii)
The Company shall, if applicable: (i) in the time and manner required by NASAQ or such other principal market on which the Company’s
Common Stock is then primarily traded (the “Principal Market”), prepare and file with such Principal Market
an additional shares listing application covering a number of shares of Common Stock at least equal to the Required Minimum on
the date of such application, (ii) take all steps necessary to cause such shares of Common Stock to be approved for listing or
quotation on such Principal Market as soon as possible thereafter, (iii) provide to the Subscribers evidence of such listing or
quotation and (iv) maintain the listing or quotation of such Common Stock on any date at least equal to the Required Minimum on
such date on such Principal Market or another Principal Market. The Company will then take all commercially reasonable action
necessary to continue the listing or quotation and trading of its Common Stock on a Principal Market for as long as any Subscriber
holds Securities, and will comply in all material respects with the Company’s reporting, filing and other obligations under
the bylaws or rules of the Principal Market at least until five years after the Closing Date. In the event the aforedescribed
listing is not continuously maintained for five years after the Closing Date (a “Listing Default”), then in
addition to any other rights the Subscribers may have hereunder or under applicable law, on the first day of a Listing Default
and on each monthly anniversary of each such Listing Default date (if the applicable Listing Default shall not have been cured
by such date) until the applicable Listing Default is cured, the Company shall pay to each Subscriber an amount in cash, as partial
liquidated damages and not as a penalty, equal to 1% of (x) Aggregate Purchase Price of Shares or Conversion Shares calculated
on an “as converted” basis, as the case may be, held by such Subscriber on the date of a Listing Default and (y) the
aggregate purchase price of Warrant Shares held by such Subscriber on the day of a Listing Default and on every thirtieth day
(pro-rated for periods less than thirty days) thereafter with respect to Shares (or “as converted” Conversion Shares”)
and Warrant Shares held as of each such date until the date such Listing Default is cured or Subscriber no longer holds any Shares,
Conversion Shares or Warrant Shares. If the Company fails to pay any liquidated damages pursuant to this Section in a timely manner,
the Company will pay interest thereon at a rate of 1.5% per month (pro-rated for partial months) to the Subscriber, up to a maximum
of sixteen (16%) percent for such interest and liquidated damages amounts, collectively.

 

    	 	 	 18

    	 

    

 

(f)
Use of Proceeds. The Company anticipates using the gross proceeds from the Offering as set forth on Exhibit D or
as otherwise agreed to be the lead investor set forth on Exhibit E, attached hereto (the “Lead Investor”.

 

(g)
Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by the
Transaction Documents, the Company covenants and agrees that neither it, nor any other Person acting on its behalf will provide
any Subscriber or its agents or counsel with any information that the Company believes constitutes or could constitute material
non-public information, and each Subscriber agrees, and shall direct its agents and counsel not to, request any material non-public
information from the Company or any Person acting on its behalf, unless prior thereto such Subscriber shall have executed a written
agreement with the Company regarding the willingness to accept receipt of such material non-public information and acknowledges
the confidentiality and use of such information and the Company’s covenant to file a further SEC filing or report and the
period in which such information shall remain confidential or be required to not be disclosed. The Company understands and confirms
that each Subscriber shall be relying on the foregoing covenant in effecting transactions in securities of the Company. In addition,
effective upon the filing of the 8-K Filing, the Company acknowledges and agrees that any and all confidentiality or similar obligations
under any agreement, whether written or oral, between the Company and any of its Subsidiaries or any of their respective officers,
directors, affiliates, employees or agents, on the one hand, and the Subscriber or any of its affiliates on the other hand, shall
terminate.

 

(h)
Limitations on Issuances and Financings. For as long as the Lead Investor (or any successor or assignee of Securities held
by the Lead Investor, other than pursuant to an open market sale) holds Securities (the “Prohibition Period”),
except with respect to Excepted Issuances (as defined in the Series F Certificate of Designation), the Company shall not
incur any senior debt or issue any preferred stock with liquidation rights senior to the Securities sold hereunder.[1]

 

(i)
Capital Changes. Until the one year anniversary of the Closing Date, the Company shall not undertake a reverse or forward
stock split or reclassification of the Common Stock without 10 days prior written notice to the Subscribers, unless such reverse
split is made in conjunction with the listing of the Common Stock on a national securities exchange or maintaining compliance
with such listing.

 

(j)
DTC Program. From the Closing Date until such time as no Subscriber holds any of the Securities (such date, the “Release
Date”), the Company shall use its best efforts to employ as the transfer agent for the Shares, the Conversion Shares
and Warrant Shares a participant in the Depository Trust Company Automated Securities Transfer Program (FAST) and cause the Common
Stock to be transferable pursuant to such program.

 

(k)
Subsequent Equity Sales. During the Prohibition Period, the Company will not, without the consent of Subscribers holding
a majority of the then issued and outstanding Shares on the date of such consent (including the Lead Investor):(A) enter into
any Equity Line of Credit or similar agreement, nor issue nor agree to issue any common stock, Common Stock Equivalents, floating
or Variable Priced Equity Linked Instruments nor any of the foregoing or equity with price reset rights (subject to adjustment
for stock splits, distributions, dividends, recapitalizations and the like) (collectively, the “Variable Rate Transaction”).
For purposes hereof, “Equity Line of Credit” shall include any transaction involving a written agreement between
the Company and an investor or underwriter whereby the Company has the right to “put” its securities to the investor
or underwriter over an agreed period of time and at an agreed price or price formula, and “Variable Priced Equity Linked
Instruments” shall include: (A) any debt or equity securities which are convertible into, exercisable or exchangeable
for, or carry the right to receive additional shares of Common Stock either (1) at any conversion, exercise or exchange rate or
other price that is based upon and/or varies with the trading prices of or quotations for Common Stock at any time after the initial
issuance of such debt or equity security, or (2) with a fixed conversion, exercise or exchange price that is subject to being
reset at some future date at any time after the initial issuance of such debt or equity security due to a change in the market
price of the Company’s Common Stock since date of initial issuance, and (B) any amortizing convertible security which amortizes
prior to its maturity date, where the Company is required or has the option to (or any investor in such transaction has the option
to require the Company to) make such amortization payments in shares of Common Stock which are valued at a price that is based
upon and/or varies with the trading prices of or quotations for Common Stock at any time after the initial issuance of such debt
or equity security (whether or not such payments in stock are subject to certain equity conditions). For purposes of determining
the total consideration for a convertible instrument (including a right to purchase equity of the Company) issued, subject to
an original issue or similar discount or which principal amount is directly or indirectly increased after issuance, the consideration
will be deemed to be the actual cash amount received by the Company in consideration of the original issuance of such convertible
instrument. “Common Stock Equivalents” means any securities of the Company or the Subsidiaries which would
entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right,
option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles
the holder thereof to receive, Common Stock.

 

    	 	 	 19

    	 

    

 

(l)
Form D and Blue Sky.

 

The
Company shall file a Form D with respect to the Securities as required under Regulation D and to provide a copy thereof to each
Subscriber promptly after such filing. The availability of the filed Form D on EDGAR shall satisfy the foregoing delivery requirement.
The Company shall, on or before the Closing Date, take such action as the Company shall reasonably determine is necessary in order
to obtain an exemption for, or to, qualify the Securities for sale to the Subscribers at the Closing pursuant to this Agreement
under applicable securities or “Blue Sky” laws of the states of the United States (or to obtain an exemption from
such qualification), and shall provide evidence of any such action so taken to the Subscribers on or prior to the Closing Date.
Without limiting any other obligation of the Company under this Agreement, the Company shall timely make all filings and reports
relating to the offer and sale of the Securities required under all applicable securities laws (including, without limitation,
all applicable federal securities laws and all applicable “Blue Sky” laws), and the Company shall comply with all
applicable federal, foreign, state and local laws, statutes, rules, regulations and the like relating to the offering and sale
of the Securities to the Subscribers.

 

(m)
Restriction on Redemption and Cash Dividends. From the date hereof through the Release Date, the Company shall not, directly
or indirectly, redeem, or declare or pay any cash dividend or distribution on, any securities of the Company without the prior
express written consent of the Subscribers.

 

(n)
Corporate Existence. From the date hereof through the Release Date, the Company shall not be party to any Fundamental Transaction
(as defined in the Series F Certificate of Designation) unless the Company is in compliance with the applicable provisions governing
Fundamental Transactions set forth in the Series F Certificate of Designation.

 

(o)
Conversion Procedures. Each of the form of Notice of Conversion included in the Series F Certificate of Designation set
forth the totality of the procedures required of the Subscribers in order to convert the Shares. No legal opinion, other information
or instructions shall be required of the Subscribers to convert their Shares (other than customary 144 representation letters
if such Shares are to be sold in reliance upon the exemption provided by to Rule 144). The Company shall honor conversions of
the Shares and shall deliver the Conversion Shares in accordance with the terms, conditions and time periods set forth in the
Series F Certificate of Designation.

 

(p)
Closing Documents. On or prior to fourteen (14) calendar days after the Closing Date, the Company agrees to deliver, or
cause to be delivered, to each Subscriber executed copies of the Transaction Documents, Securities and other document required
to be delivered to any party pursuant to this Agreement.

 

(q)
Fees. The Company shall be responsible for the payment of any placement agent’s fees, financial advisory fees, transfer
agent fees, the costs associated with any legal opinions required to be rendered to the Company’s transfer agent in connection
with the lifting of any legends on the Securities, DTC fees or broker’s commissions (other than for Persons engaged by any
Subscriber) relating to or arising out of the transactions contemplated hereby. The Company (subject to the foregoing qualification)
shall pay, and hold each Subscriber harmless against, any liability, loss or expense (including, without limitation, reasonable
attorneys’ fees and out-of-pocket expenses) arising in connection with any claim relating to any such payment.

 

    	 	 	 20

    	 

    

 

(r)
Investor Covenant. For as long as any Shares or Warrants are outstanding, the Subscriber covenants and agrees not to hold
a “short” position in the Company’s Common Stock.

 

6.
CONDITIONS TO ACCEPTANCE OF SUBSCRIPTION

 

(a)
The Closing of the sale of the Units is conditioned upon satisfaction of the following conditions precedent on or before the Closing
Date:

 

(i)
As of the Closing, no legal action, suit or proceeding shall be pending against the Company that seeks to restrain or prohibit
the transactions contemplated by this Agreement.

 

(ii)
The representations and warranties of the Company and the Subscribers contained in this Agreement shall have been true and correct
in all material respects on the date of this Agreement (except whether such representations are qualified by material or material
adverse effect, which shall be true and correct in all respects) and shall be true and correct as of the Closing as if made on
the Closing Date and the Company shall have performed, satisfied and complied in all respects with the covenants, agreements and
conditions required to be performed, satisfied or complied with by the Company in connection with the consummation of the transactions
contemplated by the Transaction Documents at or prior to the Closing Date and the Company shall deliver a certificate, executed
by its Chief Executive Officer, dated as of the Closing Date, certifying that the foregoing is true.

 

(iii)
The Company shall deliver to the Subscribers, a certificate from the Company, signed by its Secretary or Assistant Secretary,
including incumbency specimen signatures of any signatory of any Transaction Document of the Company and certifying that the attached
copies of the Company’s Certificate of Incorporation, as amended and Bylaws, as amended, and resolutions of the Board of
Directors of the Company approving this the Offering, are all true, complete and correct and remain in full force and effect.

 

(iv)
The Company shall deliver to the Subscribers a file stamped copy of the filed Series F Certificate of Designation, filed with
the Secretary of State of the State of Delaware, which shall not have been amended, waived, modified or revoked by the Company.

 

(v)
The Company shall have submitted to NASDAQ, a “Listing of Additional Shares” application (the “LAS”)
for the listing of the Shares, the Conversion Shares and the Warrant Shares thereon and NASDAQ shall have completed its review
of the LAS without comment.

 

7.
REGISTRATION RIGHTS. The Company shall file a “resale” registration statement with the SEC covering 125% of the
Conversion Shares and the Warrant Shares issued or issuable to the Subscriber, so that such shares of Common Stock will be registered
under the Securities Act.

 

The
description of registration rights is qualified in its entirety by reference to Registration Rights Agreement annexed hereto as
Exhibit F (the “Registration Rights Agreement”).

 

8.
MISCELLANEOUS PROVISIONS

 

(a)
All parties hereto have been represented by counsel, and no inference shall be drawn in favor of or against any party by virtue
of the fact that such party’s counsel was or was not the principal draftsman of this Agreement.

 

(b)
Each of the parties hereto shall be responsible to pay the costs and expenses of its own legal counsel in connection with the
preparation and review of this Agreement and related documentation.

 

(c)
Neither this Agreement, nor any provisions hereof, shall be waived, modified, discharged or terminated except by an instrument
in writing signed by the party against whom any waiver, modification, discharge or termination is sought.

 

    	 	 	 21

    	 

    

 

(d)
The representations, warranties and agreement of each Subscriber and the Company made in this Agreement shall survive the execution
and delivery of this Agreement and the delivery of the Securities.

 

(e)
Any party may send any notice, request, demand, claim or other communication hereunder to the Subscriber at the address set forth
on the signature page of this Agreement or to the Company at its primary office (including personal delivery, expedited courier,
messenger service, fax, ordinary mail or electronic mail), but no such notice, request, demand, claim or other communication will
be deemed to have been duly given unless and until it actually is received by the intended recipient. Any party may change the
address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other
parties written notice in the manner herein set forth.

 

(f)
Except as otherwise provided herein, this Agreement shall be binding upon, and inure to the benefit of, the parties to this Agreement
and their heirs, executors, administrators, successors, legal representatives and assigns. If any Subscriber is more than one
person or entity, the obligation of any Subscriber shall be joint and several and the agreements, representations, warranties
and acknowledgments contained herein shall be deemed to be made by, and be binding upon, each such person or entity and its heirs,
executors, administrators, successors, legal representatives and assigns. This Agreement sets forth the entire agreement and understanding
between the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings
of any and every nature among them.

 

(g)
This Agreement is not transferable or assignable by the Company.

 

(h)
The Company hereby represents and warrants as of the date hereof and as of any Closing Date that none of the terms offered to
any Person with respect to any offer, sale or subscription of Securities (each a “Subscription Document”),
is or will be more favorable to such Person than those of the Subscriber and this Agreement shall be, without any further action
by the Subscriber or the Company, deemed amended and modified in an economically and legally equivalent manner such that the Subscriber
shall receive the benefit of the more favorable terms contained in such Subscription Document. Notwithstanding the foregoing,
the Company agrees, at its expense, to take such other actions (such as entering into amendments to the Transaction Documents)
as the Subscriber may reasonably request to further effectuate the foregoing.

 

(i)
The obligations of each Subscriber under any Transaction Document are several and not joint with the obligations of any other
Subscriber, and no Subscriber shall be responsible in any way for the performance or non-performance of the obligations of any
other Subscriber under any Transaction Document. Nothing contained herein or in any other Transaction Document, and no action
taken by any Subscriber pursuant hereto or thereto, shall be deemed to constitute the Subscribers as a partnership, an association,
a joint venture or any other kind of entity, or create a presumption that the Subscribers are in any way acting in concert or
as a group with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Subscriber shall
be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement
or out of the other Transaction Documents, and it shall not be necessary for any other Subscriber to be joined as an additional
party in any proceeding for such purpose. Each Subscriber has been represented by its own separate legal counsel in its review
and negotiation of the Transaction Documents. The Company has elected to provide all Subscribers with the same terms and Transaction
Documents for the convenience of the Company and not because it was required or requested to do so by any of the Subscribers.
It is expressly understood and agreed that each provision contained in this Agreement and in each other Transaction Document is
between the Company and a Subscriber, solely, and not between the Company and the Subscribers collectively and not between and
among the Subscribers. The Company acknowledges that any actions of Subscribers now, and in the future, in which (A) any review
or approval is sought by the Company, including, without limitation, review, approval or acceptance of any reportable event required
to be reported in any SEC filing or report by the Company; or (B) any amendment, waiver, right of first refusal, participation
right, acquisition or financing, including any acquisition or financing is proposed, introduced, offered or arranged by any one
or more Subscribers or their affiliates or sought by the Company, shall not be claimed by the Company or any person seeking to
assert such a claim on behalf of the Company, to constitute the forming of any “Group” as such term is defined under
Section 13(d) or Section 16 of the Exchange Act, nor shall any activity permit the Company or any third party holder of securities
of the Company to assert any claim that any beneficial ownership limitations or conversion limitations of the Series F Certificate
of Designation or Warrants have been exceeded and such Subscriber, alone or in conjunction with others, constitutes a “Group”
for purposes of the Exchange Act as a result thereof.

 

    	 	 	 22

    	 

    

 

(j)
Except as otherwise provided herein, this Agreement shall not be changed, modified or amended and no right hereunder shall be
waived, except in writing signed by both (a) the Company and (b) Subscribers holding at least 60% of the Units sold in the Offering
outstanding on the date of determination (including the Lead Investor). The Company shall be prohibited from offering any additional
consideration to any Subscriber in this Offering (or such original Subscriber’s transferee) for the purposes of inducing
such person to change, modify, waive or amend any term of this Agreement or any other Transaction Document without making the
same offer on a pro-rata basis to all other Subscribers (and those transferees) in this Offering allocable to the securities acquired
by such transferee(s).

 

(k)
This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect
to conflicts of law principles.

 

(l)
The Company and each Subscriber hereby agree that any dispute that may arise between them arising out of or in connection with
this Agreement shall be adjudicated before a court located in the City of New York, Borough of Manhattan, and they hereby submit
to the exclusive jurisdiction of the federal and state courts of the State of New York located in the City of New York, Borough
of Manhattan with respect to any action or legal proceeding commenced by any party, and irrevocably waive any objection they now
or hereafter may have respecting the venue of any such action or proceeding brought in such a court or respecting the fact that
such court is an inconvenient forum, relating to or arising out of this Agreement or any acts or omissions relating to the sale
of the securities hereunder, and consent to the service of process in any such action or legal proceeding by means of registered
or certified mail, return receipt requested, postage prepaid, in care of the address set forth herein or such other address as
either party shall furnish in writing to the other.

 

(m)
WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY,
THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,
IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

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

 

(o)
Legal Representation. Each party hereto acknowledges that it has been represented by independent legal counsel in the preparation
of the Agreement. Each party recognizes and acknowledges that counsel to the Company has represented certain of the Subscribers
from time to time and may, in the future, represent others in connection with various legal matters and each party waives any
conflicts of interest and other allegations that it has not been represented by its own counsel.

 

[Signature
Pages Follow]

 

    	 	 	 23

    	 

    

 

ALL
SUBSCRIBERS MUST COMPLETE THIS PAGE

 

IN
WITNESS WHEREOF, the Subscriber has executed this Agreement on the ____ day of _____, 2017.

 

	 	x
    $2,750 for per Unit     =	 
	Units
    subscribed for	 	Aggregate
Purchase Price

 

Manner
in which Title is to be held (Please Check One):

 

	1.	___	Individual	7.	___	Trust/Estate/Pension
        or Profit sharing Plan

         

        Date
        Opened:______________

	2.	___	Joint
    Tenants with Right of Survivorship	8.	___	As
        a Custodian for

         

        ________________________________

        Under
        the Uniform Gift to Minors Act of the State of

         

        ________________________________

	3.	___	Community
    Property	9.	___	Married
    with Separate Property
	4.	___	Tenants
    in Common	10.	___	Keogh
	5.	___	Corporation/Partnership/
    Limited Liability Company	11.	___	Tenants
    by the Entirety
	6.	___	IRA	 	 	 

 

ALTERNATIVE
DISTRIBUTION INFORMATION

 

To
direct distribution to a party other than the registered owner, complete the information below. YOU MUST COMPLETE THIS SECTION
IF THIS IS AN IRA INVESTMENT.

 

Name
of Firm (Bank, Brokerage, Custodian):

 

Account
Name:

 

Account
Number:

 

Representative
Name:

 

Representative
Phone Number:

 

Address:

 

City,
State, Zip:

 

    	 	 	 24

    	 

    

 

IF
MORE THAN ONE SUBSCRIBER, EACH SUBSCRIBER MUST SIGN.

INDIVIDUAL SUBSCRIBERS MUST COMPLETE THIS PAGE.

SUBSCRIBERS WHICH ARE ENTITIES MUST COMPLETE THE NEXT PAGE.

 

EXECUTION
BY NATURAL PERSONS

 

	 	 	 
	 	Exact
    Name in Which Title is to be Held	 

 

	 	 	 
	Name
    (Please Print)	 	Name
    of Additional Purchaser
	 	 	 
	 	 	 
	Residence:
    Number and Street	 	Address
    of Additional Purchaser
	 	 	 
	 	 	 
	City,
    State and Zip Code	 	City,
    State and Zip Code
	 	 	 
	 	 	 
	Social
    Security Number	 	Social
    Security Number
	 	 	 
	 	 	 
	Telephone
    Number	 	Telephone
    Number
	 	 	 
	 	 	 
	Fax
    Number (if available)	 	Fax
    Number (if available)
	 	 	 
	 	 	 
	E-Mail
    (if available)	 	E-Mail
    (if available)
	 	 	 
	 	 	 
	(Signature)	 	(Signature
of Additional Purchaser)

 

ACCEPTED
this ___ day of _________ 2017, on behalf of the Company.

 

	 	By:	 
	 	Name:	 
	 	Title: 	 

 

[SIGNATURE
PAGE FOR SUBSCRIPTION AGREEMENT]

 

    	 	 	 25

    	 

    

 

EXECUTION
BY SUBSCRIBER WHICH IS AN ENTITY

(Corporation,
Partnership, LLC, Trust, Etc.)

 

	 	 	 
	 	Name
        of Entity (Please Print)	 

 

	Date
    of Incorporation or Organization:	 
	 	 
	State
    of Principal Office:	 
	 	 
	Federal
    Taxpayer Identification Number:	 
	 	 
	 	 
	Office
    Address	 
	 	 
	 	 
	City,
    State and Zip Code	 
	 	 
	 	 
	Telephone
    Number	 
	 	 
	 	 
	Fax
    Number (if available)	 
	 	 
	 	 
	E-Mail
    (if available)	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	[seal]	 	 
	 	 	 	 
	Attest:	 	 	 
	 	(If
    Entity is a Corporation)	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Address

 

ACCEPTED
this ____ day of __________ 2017 , on behalf of the Company.

 

	 	By:	 
	 	Name:	 
	 	Title: 	 

 

[SIGNATURE
PAGE FOR SUBSCRIPTION AGREEMENT]

 

    	 	 	 26

    	 

    

 

INVESTOR
QUESTIONNAIRE

 

Instructions:
Check all boxes below which correctly describe you.

 

	[  ]	You
    are (i) a bank, as defined in Section 3(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”),
    (ii) a savings and loan association or other institution, as defined in Section 3(a)(5)(A) of the Securities Act, whether
    acting in an individual or fiduciary capacity, (iii) a broker or dealer registered pursuant to Section 15 of the Securities
    Exchange Act of 1934, as amended (the “Exchange Act”), (iv) an insurance company as defined in Section
    2(13) of the Securities Act, (v) an investment company registered under the Investment Company Act of 1940, as amended
    (the “Investment Company Act”), (vi) a business development company as defined in Section 2(a)(48)
    of the Investment Company Act, (vii) a Small Business Investment Company licensed by the U.S. Small Business Administration
    under Section 301 (c) or (d) of the Small Business Investment Act of 1958, as amended, (viii) a plan established and
    maintained by a state, its political subdivisions, or an agency or instrumentality of a state or its political subdivisions,
    for the benefit of its employees and you have total assets in excess of $5,000,000, or (ix) an employee benefit plan
    within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and (1)
    the decision that you shall subscribe for and purchase Units, is made by a plan fiduciary, as defined in Section 3(21) of
    ERISA, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or (2) you
    have total assets in excess of $5,000,000 and the decision that you shall subscribe for and purchase the Units is made solely
    by persons or entities that are accredited investors, as defined in Rule 501 of Regulation D promulgated under the Securities
    Act (“Regulation D”) or (3) you are a self-directed plan and the decision that you shall subscribe for
    and purchase the Securities is made solely by persons or entities that are accredited investors.
	 	 
	[  ]	You are a private
    business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended.
	 	 
	[  ]	You are an organization
    described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), a corporation,
    Massachusetts or similar business trust or a partnership, in each case not formed for the specific purpose of making an investment
    in the Securities and its underlying securities in excess of $5,000,000.
	 	 
	[  ]	You are a director
    or executive officer of the Company.
	 	 
	[  ]	You are a natural
    person whose individual net worth, or joint net worth with your spouse, exceeds $1,000,000 (excluding residence) at the time
    of your subscription for and purchase of the Securities.
	 	 
	[  ]	You are a natural
    person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with your spouse
    in excess of $300,000 in each of the two most recent years, and who has a reasonable expectation of reaching the same income
    level in the current year.
	 	 
	[  ]	You are a trust,
    with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities and whose subscription
    for and purchase of the Securities is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation
    D.
	 	 
	[  ]	You are an entity
    in which all of the equity owners are persons or entities described in one of the preceding paragraphs.

 

    	 	 	 27

    	 

    

 

Check
all boxes below which correctly describe you.

 

With
respect to this investment in the Securities, your:

 

	Investment
    Objectives: 	 	[  ]
    Aggressive Growth	 	[  ]
    Speculation	 
	 	 	 	 	 	 
	Risk Tolerance:
    	 	[  ]
    Low Risk 	 	[  ]
    Moderate Risk 	[  ]
    High Risk

 

Are
you associated with a FINRA Member Firm? [  ] Yes [  ] No

 

Your
initials (purchaser and co-purchaser, if applicable) are required for each item below:

 

	____
    ____ 	I/We
    understand that this investment is not guaranteed.
	 	 
	____ ____ 	I/We are aware that
    this investment is not liquid.
	 	 
	____ ____ 	I/We are sophisticated
    in financial and business affairs and are able to evaluate the risks and merits of an investment in this offering.
	 	 
	____ ____ 	I/We confirm that
    this investment is considered “high risk.” (This type of investment is considered high risk due to the inherent
    risks including lack of liquidity and lack of diversification. Success or failure of private placements such as this is dependent
    on the corporate issuer of these securities and is outside the control of the investors. While potential loss is limited to
    the amount invested, such loss is possible.)

 

The
Subscriber hereby represents and warrants that all of its answers to this Investor Questionnaire are true as of the date of its
execution of the Subscription Agreement pursuant to which it purchased the Securities.

 

	 	 	 
	Name
    of Purchaser [please print]	 	Name
    of Co-Purchaser [please print]
	 	 	 
	 	 	 
	Signature
    of Purchaser (Entities please	 	Signature
    of Co-Purchaser
	provide
    signature of Purchaser’s duly	 	 
	authorized
    signatory.)	 	 
	 	 	 
	 	 	 
	Name
    of Signatory (Entities only)	 	 
	 	 	 
	 	 	 
	Title
    of Signatory (Entities only)	 	 

 

[SIGNATURE
PAGE FOR INVESTOR QUESTIONNAIRE]

 

    	 	 	 28

    	 

    

 

EXHIBIT
A

 

Certificate
of Designation of Preferences, Rights and Limitations of Series F Convertible Preferred Stock

 

See
Attached.

 

    	 	 	 29

    	 

    

 

EXHIBIT
B

 

Form
of Warrant

 

See
attached.

 

    	 	 	 30

    	 

    

 

EXHIBIT
C

 

Wire
Instructions

 

See
attached.

 

    	 	 	 31

    	 

    

 

EXHIBIT
D

 

USE
OF PROCEEDS

 

General
Working Capital/Commercialization and development of pipeline

 

    	 	 	 32

    	 

    

 

EXHIBIT
E

 

LEAD
INVESTOR

 

See
attached.

 

    	 	 	 33

    	 

    

 

EXHIBIT
F

 

REGISTRATION
RIGHTS AGREEMENT

 

See
attached.

 

    	 	 	 34

    	 

    

 

COMPANY
DISCLOSURE SCHEDULE

 

Nothing
herein is intended to broaden the scope of any representation or warranty of the Company contained in the Agreement or to create
any covenant on the part of the Company. The disclosure of any item in a Schedule is a disclosure of that item for all purposes
for which disclosure is required under the Agreement and shall also constitute disclosure in any other appropriate Schedule but
only to the extent it is reasonably apparent from a reading of the disclosure that such disclosure is applicable to such other
Schedules. Inclusion of any item herein shall not constitute, or be deemed to constitute, an admission to any third party concerning
such item by the Company.

 

Schedule
numbers used herein correspond to the schedule or section numbers in the Agreement. All references to “Schedule,”
“Section” or “Subsection” refer to a Schedule, Section or Subsection in the Agreement unless the context
otherwise requires. The headings in these Schedules are for convenience of reference only and shall not affect the disclosures
contained herein.

 

Schedule
4(hh)

 

Cantor
Fitzgerald & Co. [2%]

 

    	 	 	 35

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}]]